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Some see flat renewals this year, while others report deployment of larger lines.
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The firm will no longer have to compete with one hand tied behind its back.
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A quick roundup of this week’s biggest stories.
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Storms struck the Great Plains, the Midwest and the Southeast.
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The company plans to reduce its quota share to 20% from 40%.
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Only umbrella posted a higher rate increase, while workers’ comp continued to drop.
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These cedants could offer the firm access to support their casualty and specialty lines as well.
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Casualty is less of a concern, despite reserving issues.
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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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Rates are still materially higher than pre-pandemic and lower layers are holding firmer.
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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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The business has ~$200mn of Ebitda, pointing to a likely multi-billion enterprise value.
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Mizell will be based in IMA’s Houston office, its fastest-growing regional division.
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CEO Joseph Brown said only that GBLI has had ‘conversations’ with James River.
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The vehicle will give the legacy carrier a US platform.
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Reserving actions have added pressure to upward pricing.
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The carrier’s comments on claims severity should serve as a warning for the industry
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Paragon co-CEOs James Kalbassi and Tara Falk will become Ardonagh shareholders.
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The buyer intends to fund the transaction with approximately 50% equity and 50% debt.
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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.