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CEO Kathleen Reardon said recent legislative changes are a ‘band aid’ but will help to calm the stressed Florida market.
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The legacy carrier’s GWP of EUR28.5mn was less than half that of the prior year.
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The carrier’s move to cement its identity as a specialty (re)insurer could put it at a competitive disadvantage.
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The forecast range of hurricanes is slightly wider than in 2021, but in line with 2020.
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Apollo ibott, Aioi Nissay Dowa Europe and Marsh teamed up to arrange the placement for a driverless vehicle journey in Europe, the first of its kind.
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The legacy and program specialist is pursuing a $100mn rights issue after the collapse of its sale to 777 Partners-owned Brickell.
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The company confirmed that shareholders voted against a proposed takeover by the 777-owned insurance arm, after its suitor stated its intention to terminate the deal.
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The existing $770mn adverse development cover between the two parties has been absorbed as part of the deal.
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The commercial insurance CEO said that the industry should act now before the cat market reached a point of implosion.
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The proposal is at the upper end of previous proposals put to the insurer’s board.
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Premia and Arch are pursuing AmTrust for costs relating to an RITC deal struck as part of the Canopius merger.
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The new hire joins from Axa XL, with a background at Hiscox.