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Arkansas-based RVU provides commercial P&C and some specialty programs. -
CEO Tom Wakefield said property cat supply is “materially outpacing demand”.
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The action follows Sompo’s $3.5bn all-cash acquisition of Aspen Insurance.
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The data modeling firm said losses previously averaged $132bn annually.
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CFO Liam Caffrey has been elected as Rountree’s successor.
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Some 32% of survey respondents expect property cat rates to fall by more than 7.5%.
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Henrietta Butcher leaves Tysers after decades with the broker.
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Lisa Binnie will succeed him as president of the company’s specialty admitted segment effective September 1.
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Ratings agency said the Sompo deal could have positive financial and operational benefits for the Bermudian.
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The company said defendant "distraction" can’t make up for flimsy arguments.
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The violations included not using properly appointed adjusters and failing to pay claims.
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Sources said the team is led by Martin Soto Quintus and is mostly based in Chile.
