segment
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It is understood that the company aims to launch in Q3 or Q4 of this year.
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Participating members can purchase up to $10mn in (re)insurance.
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This follows the broker’s report last year, which also found a “notable uptick” in claims.
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A cleaned-up combined entity could make for an attractive investment in a few years.
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Sources said the process will target buyout firms and will not be open to trade bidders.
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The carrier stopped accepting new HO business in the state last May.
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AM Best recently downgraded the insurer after Gallatin Point acquired a majority stake last January.
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The body’s budget committee is again pressing Citizens over solvency concerns.
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The mutual’s AM Best FSR rating is under review with negative implications.
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Spina will be based in New York and oversee surety accounts along the East Coast.
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Long-term confidence in the market depends on the details of the new tax rule.
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The RfP covers the CEA and/or the California Wildfire Fund.
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Glatfelter CEO Chris Flatt will become interim chief executive.
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He joins from Odyssey Re, where he was treaty underwriting VP.
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May and June takeout requests for Citizens are exceeding expectations.
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The deal comes after Insurvia was seeking a new sponsor.
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It is backed by paper from MS Transverse, this publication understands.
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Existing taxes could be lowered under a potential new structure.
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Premium inflation holds, as loss-cost inflation trends continue to moderate.
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The Insurance Insider news team runs you through the earnings results for the day.
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Overall rate expectations are flattish to single digit increases.
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The Insurance Insider US news team runs you through the earnings results for the day.
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Commercial lines difficulties continue to weigh down industry results.
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The exit follows the broker moving its Climate Risk Advisory function into its Risk Capital segment this year.
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The challenger broker is continuing to build out its presence on the island.
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Insurance Insider US examines public brokers’ 2023 M&A.
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Sullivan is the former CEO of AIG and now a senior adviser at Lightyear Capital.
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The hires fill roles previously held by Martin Leitch and Dave Logan.
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Increased cat losses in property offset auto improvements.
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The former MS Re CUO brings over 30 years of industry experience.
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WTW hired Kolos for transactional solutions, Chin for tax insurance and Kesack for contingent solutions.
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Premiums rose an average of 7% across all lines, down from Q3.
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Some carriers may be pressing too hard on reserve releases from recent years.
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The closing of the Interboro sell-off was postponed to nearer the end of the year.
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The non-renewals will continue through June 15, 2025.
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