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The property segment experienced a 113.5-point impact from the California wildfires. -
The business, which has ~EUR300mn of book value, is expected to launch a process.
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The Kelso and Arch-backed run-off player has retained Evercore to advise.
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The business will divide into US wholesale and specialty, and programmes and solutions.
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The legacy carrier reported an operating loss of $45.3mn for the year.
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The CUO’s turnover closely follows that of the CEO.
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Alongside Chatterjee, SVP Dharma-Wardana has also exited the team.
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Why have reinsurance start-ups remained so rare in recent years, even as underwriting conditions have improved?
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Being the “new kid” has created interest in the market, Mereo CEO Croom-Johnson added.
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The broker has also hired fellow Aon broker Barry Gordon in a role trading ILWs.
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The business will still look at large non-life deals in particular in-the-money ADCs.
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Erik Manning is joining the business from BMS as head of ceded reinsurance.
