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Everest Re sidecar Mt Logan Re has reached $1.1bn of assets under management.
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The proceeds will be used in part to repurchase up to 1 million Class A shares.
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The Federal Emergency Management Agency engaged Hannover Re for the 3-year issue.
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Other similar types of platform in the Bermudian (re)insurer’s portfolio have also grown.
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The reshuffle follows the resignation of CUO and active underwriter Nicky Payne from the Credit Suisse-backed ILS syndicate.
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Former CEO Rick Welsh has left the company as it prepares for a rebrand.
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Paper providers are demanding greater transparency from MGAs as the need to streamline costs puts renewed pressure on the distribution model. -
Nephila helped the top 10 ILS managers expand their asset bases to $67bn in H1 2018.
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Watson spent three years at Markel Catco, having joined the company in 2015.
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The nationwide giant cited pricing as a reason for the shift.
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Barbican Managing Agency underwriting director David Booth steps into the role on an interim basis.
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Richard Slater joins from XL Catlin as underwriting director, while Adam Champion leaves MS Amlin to take the role of senior vice president, portfolio manager and operations.
