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What does the bustling insurance industry of today have in common with the coffee shops of the seventeenth century? -
CEO responsibilities will be shared by Chris Newman and Tanya Krochta.
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RBC reports can help regulators identify weakly capitalized companies.
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The regulator is also aiming to digitise and simplify its authorisation process.
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CUO Rachel Turk said some syndicates were showing a “mismatch” in ambition and strategy.
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“We do not have the luxury of time,” he said during the Bermuda Risk Summit.
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The regulator has scotched plans to publish details of ongoing investigations.
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“They've been focused on this for more than 10 years,” said Bermuda’s CIT Agency CEO Mervyn Skeet.
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The company said it now expects the transaction to close in H2 2025.
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The ratings agency noted “significant” underwriting improvement in 2023-24.
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In the absence of interim action, the segment could face an “availability crisis”.
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The carrier has paid $1.75bn on around 9,500 claims filed from the wildfires.
