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The GDV trade association reports below-average losses thanks to a quiet winter storm season.
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The carrier said there were plans to grow the team further and its US and non-US sides would be merged.
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The Irish broker was founded in 1961 and has around 200 employees writing both commercial and personal insurance.
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The InsurTech was locked in a dispute with Deutsche Telekom over whether it owns the copyright to the use of magenta. -
The investor wants the Finnish insurer to build on this week’s sell-down of Nordea Bank shares with further divestments.
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The carrier raises almost $655mn through the sale of new shares, while existing investors sell another $70mn of stock.
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The former Ironshore International CEO was most recently chief client officer of Liberty Mutual’s Global Risk Solutions.
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The New York-based InsurTech launched in Amsterdam earlier this year and made its European debut in Germany last year.
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Other InsurTechs are likely mulling IPO options and are garnering more investor interest, according to a report.
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Prices rise in every region for the seventh consecutive quarter, with the UK easily outstripping US growth.
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Geico’s combined ratio came in at 77.2% down 18 points as frequency fell 24% to 30% across all product lines.
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CEO Dan Preston says the initiative is part of the company’s strategy to expand into the third-party claims administration sector.
