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Sources said the brokers are in the final stages and could seal a deal in the next couple of weeks. -
The firm is still operating within its catastrophe budget for the year, CEO Scott Egan said.
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The company has grown its premium base by 12% annually over the last five years.
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The carrier has appointed Ivan Sit to head up the operation.
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Bradley Haimes will leave Zurich after more than a decade with the carrier.
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The carrier booked $30.6mn of favourable development in the quarter.
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The estimate implies a roughly $15bn homeowners’ industry loss from the hurricane.
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Arch is assuming an industry loss related to Helene in the $12bn-$14bn range.
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Andrade flagged expected 5% to 10% increases in the US and Europe.
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The company’s reshaping of the book will be substantially completed by year end.
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The wholesaler also paid $11.7mn in cash to Alera for the acquisition of Greenhill Underwriting.
