companies
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The executive had previously worked at global talent agency William Morris Endeavor.
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Rappa will take on the role effective May 20.
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She will retire as CEO of North America at the end of 2024.
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The CEO said he is “optimistic” about the future of the commercial space.
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The $6.7bn Chubb investment is an outlier in the Berkshire portfolio.
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The executive announced last month that he was leaving Parsyl, where he had worked since 2021.
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This takes pre-tax cat losses for the calendar year to $1.23bn
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The deal represents a major milestone in AIG’s repositioning as a pure-play P&C insurer.
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The conglomerate exited its $620mn position in Markel, which it has held since 2022.
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The executive is to pursue “a different entrepreneurial path”, according to an internal memo.
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Farmers cited “positive changes” in the state's commercial insurance market.
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The executive will report to Aon fac head in south Florida Eduardo Hussey.
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The executive succeeds Rick Miller, who passed away last month at age 62.
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Based in Virginia, she will identify and pursue Mid-Atlantic opportunities.
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Analysis of 2023 statutory data shows that Californian insurers are leaning more heavily on reinsurers but at a nationwide level, premium cessions were more stable.
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Christopher Cavallaro's appointment to the company's board of directors is effective this month.
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The FTC issued a final rule on April 23 banning the use of non-competes nationwide.
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The underwriters will receive a 30-day option for an additional one million shares.
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The carrier’s goal for its specialty arm is to achieve $10bn in written premiums and a sub-90% CoR by 2030.
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Michael Yeats will now lead the automatic reinsurance facilities division in the US.
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Across three offerings, Victor increased coverage maximums by $33mn.
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Along with D&F, Fidelis is looking to grow in marine construction and aviation.
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The firm will no longer have to compete with one hand tied behind its back.
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The company plans to reduce its quota share to 20% from 40%.
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These cedants could offer the firm access to support their casualty and specialty lines as well.
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The bridge disaster added 6.3pts points to the company’s overall CoR in Q1.
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During Q1, the firm’s E&S GWP dropped 6.6% to $213.7mn.
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The loss ratio in the business that HCI assumed was also better than anticipated.
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The Insurance Insider US news team runs you through the earnings results for the day.
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CEO Joseph Brown said only that GBLI has had ‘conversations’ with James River.
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The carrier’s comments on claims severity should serve as a warning for the industry
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The carrier is also seeing growth opportunities across the West.
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The Insurance Insider US news team runs you through the earnings results for the day.
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The promotions are within RT Specialty's environmental and construction professional practice.
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The executive has worked as a casualty treaty underwriter at QBE Re and Scor.
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The CEO said companies are still taking charges on years 2013 to 2019.
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The partnership will increase K2's capacity for US hurricane and earthquake exposure.
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The $15.5bn price tag equates to around 18x the company’s 2023 core Ebitda.
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New leaders of these reinsurers have started strong, but Axis still has work to do.
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Tailwinds from a profitable 2023 sent insurers into strong markets in Q1 2024.
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The Insurance Insider US news team runs you through the earnings results for the day.
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Enstar recorded $280mn of other income in Q1 2023 related to Enhanzed Re.
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Long-run loss cost trends in the US are at 6.5% as a result.
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Strack has worked at Arch for close to four years.
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Craig Hanrahan joins as Northeastern region leader from Chubb.
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The insurance arm’s CoR declined 4 points to 89.3% on lower cat losses.
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The consideration in this deal will also include $2.2mn of Ryan Specialty Class A common stock.
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The appointment is part of Axa XL's plans for a more client-centric approach.
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AJ Gallagher had also shown an interest in acquiring the Australian retailer.
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AIG sees improvement from tightened underwriting, though value creation has yet to catch up.
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President Tim Turner noted two pricing trends: property “stabilization” and casualty “acceleration”.
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The Insurance Insider US news team runs you through the earnings results for the day.
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US SCS insured losses YTD already stood at around $12bn prior to these events.
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The action comes in addition to a $55mn unfavorable development in GL in Q4 2023.
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Roche said the company's deliberate efforts to limit exposure in the Midwest offset loss trends.
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The specialty insurer reported 27.2% Q1 top-line growth and a lower CoR of 89.6%.
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The exits represent less than 2% of the company’s insurance segment operations annually.