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The group reported a 19.1% return on opening adjusted tangible book. -
Overall, the company’s underwriting income fell 43% to $417mn in the first quarter.
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The carrier is targeting an IPO valuation between $2.6bn and $2.9bn.
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The carrier is offering shares priced at $29-$31.
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The California wildfires were the only “relevant event” for the period, the carrier said.
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The business, which has ~EUR300mn of book value, is expected to launch a process.
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Insolvencies caused by the tariffs could also cause increased losses
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The storm made landfall in Queensland, Australia at the beginning of March.
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The firm acted as the front for Trouvaille Re, the E&S property sidecar for MGA AmRisc.
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From where to prioritise investing to managing slower growth, there are tough balancing acts ahead.
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The investment recovery will be welcome but Chinese tariffs will contribute to loss-cost inflation.
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Storms in the UK and Ireland drove losses in the commercial segment.
