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Ex Ascot colleagues Gavin Wall, Chris McGill, Matthew Eve and Parth Patel are reuniting at the new unit. -
The liquidation will let the company sell its Accredited arm to Onex via an alternative transfer structure.
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SCS caused global insured losses worth at least $8bn in the first quarter of 2024.
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With topco liquidation looming, there are questions for R&Q and the wider market.
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Reinsurers “weren’t getting paid” before 2023’s hardening, the Lloyd’s executive argued.
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The Canadian PE house is delaying close and seeking to renegotiate aspects of the deal.
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The broker has more than 30 years’ experience in the London motor market.
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Reinsurers are much better placed to absorb cat losses; insurers are carrying more risk.
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The Florida portion of the program provides $1bn in protection.
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The deal will see Darag manage open claims relating to the runoff of Unipol Re.
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The CEO also discussed the need for portfolio diversification.
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Major deals include a $1.3bn loss portfolio transfer with SiriusPoint.
