Howden
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A 20% increase in FHCF retention levels sent cedants to the private market. -
The broker called on carriers to expand coverage into new specialisms.
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Fox highlighted the increasing role of alternative capital and creative financial vehicles.
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The executive will oversee Howden Re’s treaty and fac business in Miami as well as the firm’s specialty insurance unit.
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The broker said the burgeoning class of business was still finding its stride.
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The UK broker is still in talks with Mubadala about a standalone investment in the business.
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Sources said Brown & Brown has an advantage as it entered the process several weeks ago.
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Sources said the Evercore-run Risk Strategies process has drawn the interest of Brown & Brown.
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A report from the reinsurance broker said fast rate approvals are key to stabilizing the California marketplace.
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Challenges will include boosting the target’s organic growth, Building the Machine, and prepping for an IPO.
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Earlier this month this publication revealed Howden’s $2bn+ fundraising talks with Mubadala to fund a US deal.
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Risk Strategies looks like the deal that makes most sense, but other targets could include Galway or Hilb.
