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The venture is led by Guillermo Eslava, a former Swiss Re and Brit underwriter who briefly joined Argo in 2019 as head of LatAm casualty.
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The reinsurer dubbed "Vantage" also secures Aurora Swithenbank as CFO. -
Government shift to immediate priorities and the complexity of the issues prompt a pause.
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The 50:50 joint venture will sell automotive and mobility insurance products, starting in France next year.
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The former GL leader takes up a New York and Connecticut role.
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The expansive ILS firm is likely to look for debt funding to remain staff-owned.
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Liability account move is latest development in ongoing reinsurance buying overhaul.
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The move will allow Markel to leverage Nephila's position and generate operational efficiencies, co-CEO Richie Whitt said.
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Former Markel underwriting executive Trevor Carvey will also be part of the leadership team.
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The carrier will use the proceeds of the offering for general corporate purposes.
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The executive said the market has had “a really poor stretch” of earnings.
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The alliance will initially focus on the machine tools and transportation industries.
