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Syndicate 609 will cede net loss reserves of approximately $196mn. -
Augment has been building its staff base after launching with Altamont backing in 2023.
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The carrier tapped the run-off market in Q4 for a US casualty insurance-focused portfolio.
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The reinsurance veteran joins from Artex Risk Solutions.
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The transaction mostly covers casualty portfolios of 2021 and prior underwriting years.
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The result was impacted by recent adverse development on a liability portfolio.
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The transaction has received all required regulatory approvals and closed.
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The carrier’s shares declined over 17% this morning following Q3 earnings and strategic actions.
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James River also amended the convertible preferred equity held by Gallatin Point and closed its strategic review.
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The UK and Ireland have also seen “increased activity”, with four deals announced.
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Nicola Gaisford joined RiverStone from R&Q last year.
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