Insurers
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Fierce competition for cargo talent continues in the London market. -
The agency cited SiriusPoint’s recent management moves including lower cat exposure as a driver of the change.
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As the next generation of Names comes to the fore, advisers urge simplification.
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Managing director Nick Bacon will also exit this summer.
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The only major product line to see rate increases was casualty.
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The board of directors was unanimous in its decision.
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The sale price represents Elephant’s approximate net asset value.
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The business will divide into US wholesale and specialty, and programmes and solutions.
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The underwriter is to run a new fine art and specie operation.
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The combined business volume of the two firms is CHF20.1bn.
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Representatives from the UK broker have been ordered to appear before magistrates on 7 May.
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Sources expect it to be a couple billion-dollar insurable market.
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Daily Digest: Top news from 11 September
11 September 2025