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The bodies said that the benefits of diversity and scale would help improve coverage. -
Tony Simm will report to Garret Gaughan, global head of direct and facultative.
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The IG said this year had been “more difficult” for the group’s reinsurance partners.
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Recent weeks have seen a string of facility launches and capacity increases.
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Insurance Insider revealed yesterday Stone Point will join Madison Dearborn and HPS as shareholders.
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Everest is in the process of transforming its ILS offering.
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CEO Trevor Carvey said the revision reflected Conduit’s “favourable reception”.
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The reduction in capacity reflects “strategic adjustments”.
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The minority deal values the broker at around 16x-17x Ebitda against a challenging financing backdrop.
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Swiss Re has retreated from its “escalation clause” for the Middle East.
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The pair will lead crisis management and financial lines, respectively.
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The broking business will transfer along with four unknown assets owned by the PE backer.
