Excess & Surplus
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But rates remain in positive territory and pockets remain hard even as competition picks up.
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Rate increases in the niche market segment remained in the double digits, but the pace of gains was slower than in prior periods.
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The transaction will involve around half of Hallmark Specialty Group shares being floated on the public markets.
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The cover will be targeted at local governments, school districts, publicly owned utilities, and universities and colleges.
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Robinson said the move fits into a broader strategy of finding new sources of data to improve underwriting capabilities.
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The E&S carrier has also appointed Diane Schnupp as an executive vice president.
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“Flood is a perfect example of one of the products that we're seeking to grow strongly over the next few years,” she said.
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Hiscox is looking to “very strongly” grow its US excess and surplus lines (E&S) business in the coming years, Hiscox London Market CEO Kate Markham told an online event hosted by Lloyd’s on Tuesday.
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The volume of business written during the month rose by 1.3% year on year.
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Sources said that the second biggest wholesaler in the US has already started to engage banks.
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The trade association elects Worldwide Facilities CEO Davis Moore as president.
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Core E&S premiums grew by 39% during the quarter.