Financial institutions
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The ratings agency cited an increased risk of asset-quality deterioration. -
A group of lenders have provided uninsured deposits of $30bn to support the ailing bank.
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The longstanding Chaucer underwriter left when the carrier exited the FI market last year.
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Not only could raising venture debt become increasingly difficult for the sector, but InsurTech companies could also struggle to access their credit lines.
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The MGA’s international platform hopes to bring in MGA underwriters looking for US expansion.
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Argenta will be a cornerstone capacity provider to new MGA Casper, which will write $100mn in year one.
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The MGA has grown its fintech book by 100% in the last year and the new team will be led by Hannah Durrant.
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The business marks the latest launch into a financial lines market that has attracted substantial amounts of capacity.
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Alex Burton Brown’s appointment comes at a time of elevated personnel movement in the financial institutions space.
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There has been a recent uptick in personnel movement in the financial institutions space.
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Jodie Major worked for Chaucer’s financial institutions team, and the carrier has recently exited the market.
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The move is the second recent class-of-business exit, with the business also having withdrawn from downstream energy.
