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Co-founder and CUO Jacqui Ferrier has been appointed his successor.
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Six weeks after the storm, Perils released its first industry-loss estimate at EUR619mn.
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The only major product line to see rate increases was casualty.
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In a post on LinkedIn, Steve Arora said investor appetite “just wasn’t there”.
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The firm now reports on insurance exposures to natural perils for 21 countries.
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Despite wildfires, reinsurers are “well positioned to maintain strong profitability in 2025”.
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Trouvaille II raised $580mn for 2025, compared to $325mn in 2024.
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Losses stemmed from ex-Tropical Cyclone Alfred and North Queensland flooding.
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Overall market capacity increased by 5.3% year-on-year, the broker reported.
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The announcement comes after similar launches with Inigo and Atrium.
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The company booked profit for the year of £247mn, up 20% on the prior year.
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The syndicate expects £5.8mn-£8.6mn in California wildfire claims.