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Sources said the deal was roughly three times over-subscribed as cat becomes hot.
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The downgrade reflects the company’s balance sheet strength, which AM Best assessed as weak.
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Demand for funding is still seen as robust, however.
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The leadership team includes Spinnaker co-founders Dave and Ken Ingrey and ex-CUO Miles Allkins.
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The Insurance Insider US news team runs you through the past week’s key M&A deals.
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Doppstadt and Paglia have served on the board for 14 and 10 years, respectively.
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A claim on that scale would test the market in ways it has never seen.
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The syndicate will be Asta managed and have capacity from Hampden Names.
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Earlier this month this publication revealed that Aquiline was seeking a buyer for Accuserve.
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A quick roundup of this week’s biggest stories.
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Joe Morrello joined the firm in 2022 after serving as E&S property head at Beazley.
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It is understood that the company aims to launch in Q3 or Q4 of this year.
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CyberCube expects ransomware attack to impact both large and SME accounts.
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The two will serve clients in the power, utility, and renewable segment.
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April Files is based in Houston, Texas.
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A total of 30 carriers entered the US public company D&O space in 2023.
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Social inflation is driving “cat-type” losses, with an increase in $50mn-plus verdicts.
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Insurance Insider US’s morning summary of the key stories to get you up to speed fast.
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The market is shifting towards capital relief, with fewer, larger deals.
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Trisura is expanding the firm’s licenses to include all 50 states and Washington, DC.