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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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Rates are still materially higher than pre-pandemic and lower layers are holding firmer.
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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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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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Paragon co-CEOs James Kalbassi and Tara Falk will become Ardonagh shareholders.
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The carrier is also seeing growth opportunities across the West.
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Arkin Holdings and Launchbay Capital also participated as new investors.
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The CEO said companies are still taking charges on years 2013 to 2019.
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The Insurance Insider US news team runs you through the earnings results for the day.
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Enstar recorded $280mn of other income in Q1 2023 related to Enhanzed Re.
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Long-run loss cost trends in the US are at 6.5% as a result.
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Craig Hanrahan joins as Northeastern region leader from Chubb.
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Habitational, lessors’ risk and BOP accounts are among the most challenged.
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AJ Gallagher had also shown an interest in acquiring the Australian retailer.
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The Insurance Insider US news team runs you through the earnings results for the day.
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The specialty insurer reported 27.2% Q1 top-line growth and a lower CoR of 89.6%.
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The primary casualty book was down by “some 26-odd percent from the prior year”.
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The carrier reported an E&S property slowdown but “massive” submission activity in casualty.