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Reid spoke about M&A, organic growth, remaining an employee-owned private firm and the expected disruption in US broking.
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The Insurance Insider US news team runs you through the key M&A deals from the past week.
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Based in London, the executive will report to Ocean Re CUO Jamie Wakeling.
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The former Everest executive will look to roll out a range of new product lines at the heavyweight MGA.
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A quick roundup of this week’s biggest stories.
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The CEO said he is “optimistic” about the future of the commercial space.
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The deal represents a major milestone in AIG’s repositioning as a pure-play P&C insurer.
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The CEO is one of more than 20 executives who received letters from Floir citing Statute 624.4073.
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YoY Ebitda margins for private brokers declined two points, to 29% in Q1.
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The suit also names CEO William Spiegel and CFO Tom Solomon as defendants.
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The segment’s accident year 2023 combined ratio moved up 1 point to 98% in 2023.
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The all-items CPI has increased 3.4% over the last 12 months.
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The executive is to pursue “a different entrepreneurial path”, according to an internal memo.
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The ratings agency warns that wildfire is an increasingly risky and unpredictable peril.
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Rina Visconti is joining the firm’s national casualty practice after 27 years at CRC.
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Farmers cited “positive changes” in the state's commercial insurance market.
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Deal volume for Q1 decreased to 111 transactions from 116 last year.
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The FTC issued a final rule on April 23 banning the use of non-competes nationwide.
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The underwriters will receive a 30-day option for an additional one million shares.
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The carrier’s goal for its specialty arm is to achieve $10bn in written premiums and a sub-90% CoR by 2030.
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Across three offerings, Victor increased coverage maximums by $33mn.
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Along with D&F, Fidelis is looking to grow in marine construction and aviation.
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The Insurance Insider US news team runs you through the key M&A deals from the past week.
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Some see flat renewals this year, while others report deployment of larger lines.
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The company plans to reduce its quota share to 20% from 40%.
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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.