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The company, meanwhile, is bullish on E&S US casualty. -
The firm pegged industry losses at $35bn-$45bn.
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The start-up has achieved an A- credit rating from AM Best.
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Over 2024, four hurricanes added 13 points of cat-loss impact to the combined ratio.
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The restructuring arrangement is designed to protect creditors.
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At 1 January renewals, prices dropped 5%-15% for loss-free programmes.
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The Bermudian’s wildfire loss estimate was based on an industry loss range of $35bn-$45bn.
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The MGA and 49% owner SiriusPoint could bring in a new investor.
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Claims related to California wildfires are "fairly insubstantial" to date, executives said.
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The capital partners unit was launched via London Bridge 2 in Lloyd’s last year.
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The carrier’s Q4 CoR decreased 34.8 pts YoY to 94.2% as it reported favorable prior-year reserve development.
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The reinsurer is ready to deploy additional capacity following the event, but only if prices are commensurate with risk.
