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It said the loss did not reflect the underlying economic performance of the business.
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The measures also seek to encourage greater wildfire mitigation efforts.
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The sidecar will support five programs providing specialty frequency coverages.
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The business has ramped up its underwriting volume since launching in Lloyd’s last July.
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Insurance Insider reported earlier today of the asset manager’s foray into the MGA space.
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The MGA is backed by three Lloyd’s syndicates, offering capacity limits of up to $10mn.
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The business said it was experiencing strong momentum on the Island.
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The deal represents a first entry into the US MGA market for the $1.1tn asset manager.
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The Howden MGA established its marine presence in the Netherlands in 2023.
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The deal is expected to result in $700mn in combined GWP in Florida upon completion.
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The MGA has set a "new market benchmark" for non-US primary tax risk, it said.