CRC Insurance Services
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The executive will continue to lead CRC Insurisk in the expanded role. -
Renewal rates fell, despite elevated catastrophe losses.
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A London wholesaler broker would be a compelling second move.
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The CD&R and Stone Point-backed wholesaler said that further international deals may follow.
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Sixth Street and Cornell also bid for the wholesaler.
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The exchange is backed by $100mn in funding from CD&R and others.
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They cover environment, political violence, equipment and cannabis.
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It acquired wholesaler ARC Excess & Surplus, confirming an earlier report from this publication.
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The program is being launched through subsidiary Southern Marine.
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After a period of business building, MGAs will likely spend more time optimizing.
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The group will house a segment for specialty and benefits and another for underwriting.
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Talks are not preliminary, but a deal is not imminent for the two brokers, sources said.
