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Available net cash proceeds on closing are now down ~$100mn to $65mn-$110mn
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There is a high likelihood the property claim will be subrogated.
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Roth will be responsible for retroactive and prospective structured reinsurance.
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Global commercial insurance rates rose 1% in Q1, down from a 2% increase in Q4 2023.
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The group has promoted Defne Turkes to COO of its new international insurance unit.
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The carrier increased its top line by 35% to $1.1bn.
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The broker used a consensus-based hypothetical cat event type to analyse its global impact.
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The city alleges defendants knowingly allowed an “unseaworthy” Dali to set sail.
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‘Strong reinsurance cover’ in the UAE, Oman and Saudia Arabia is to be triggered.
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The product was made through a partnership with technology provider Safehub.
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The carrier’s Q1 P&C re combined ratio is around 75%.
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The MGA has seen a “significant uptick” in dealmaking in the sector.
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The appointment of additional non-executive directors is currently under consideration.
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Kirsten Valder has been with Arch for 10 years and before then was a partner at Kennedys Law.
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Lloyd’s and Velonetic are still exploring three options for the latter stages of cutover.
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The appointment comes soon after the rebranding of the Richard Brindle-led business.
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Liberty Specialty Markets is recruiting for its hull team following a number of staff exits.
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The executive is to step back for personal reasons.
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Willett will be responsible for growing the FI team’s footprint and Nexus’ Lloyd’s box offering.
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The ratings agency said momentum in US E&S would create opportunities for the London market.
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The Lloyd's CUO warned against "calling victory too early".
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As a result of mostly flooding, £474mn of losses occurred in the UK.
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The carrier's UK portfolio will no longer be written with an in-house team.
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