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The two firms did not secure approval from Bafin within the allotted nine months. -
The target is in administration, having entered solvent run-off in 2003.
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The executive joins after nearly a decade at the Bermuda carrier's legacy peer.
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The Oslo-based carrier warns it will record a Q2 combined ratio of 107 percent after losing a dispute with Munich Re over Grenfell losses.
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The legacy carrier has acquired several risk retention groups in recent months.
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Alan Quilter and Roger Sellek, a former CEO at AM Best, will become joint CEOs.
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They say good things come to those who wait.
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The carrier is continuing its European expansion following its purchase of two run-off books from Generali.
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As live carriers shake off last night’s excesses and vow to turn over a new leaf, the run-off market can be there to provide a reassuring pat on the back and a sympathetic ear.
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The former RITC syndicate follows a string of other Lloyd’s businesses onto the market.
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Global specialty insurer StarStone reported $51mn of adverse development
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The $80.5mn deal - the buyer's largest ever legacy takeover - was originally expected to close in 2018.
