Financial institutions
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Ongoing rate declines have been seen in recent renewals though the pace of decreases, particularly for established public companies, has slowed.
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Inside P&C’s news team runs you through the key highlights of the week.
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InsurTechs are still the most heavily shorted among P&C names, though they likely have been beneficiaries of a short squeeze for most of 2023.
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A subtle, decade-long shift toward equity investments halts as rising interest rates push carriers back to short-duration bonds.
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While there were sparks of cheerfulness among attendees, a careful reading of the room showed that rationalism is superseding optimism.
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Inside P&C’s morning summary of the key stories to get you up to speed fast.
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Recent data shows an increase in InsurTech short interest and a slight uptick for brokers and P&C insurers as a result of economic uncertainty following the banking crisis.
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In addition to the loss-share transaction, First Citizens has agreed with the US regulator to share losses to provide future protection against potential credit losses.
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Inside P&C’s news team runs you through the key highlights of the week.
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A group of lenders have provided uninsured deposits of $30bn to support the ailing bank.
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Not only could raising venture debt become increasingly difficult for the sector, but InsurTech companies could also struggle to access their credit lines.
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Though insurers are not heavily invested in Silicon Valley Bank, Signature Bank, or in other regional banks at risk of contagion, the developing macroeconomic situation could impact P&C carriers more significantly.
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