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Hurricane Delta triggered the carrier’s aggregate reinsurance programme.
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Other recent acquisitions include the company's takeover of New England wholesaler Amity Insurance Agency in August.
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The carrier said it does not expect to recover any losses through its reinsurance programs.
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His appointment comes after Steve Bitar took over as CEO in April.
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Progressive’s September results were strong. The firm reported $0.57 in operating EPS, up 48.7% YoY, and saw a headline combined of 88.3% (down -4pts YoY). -
The carrier’s third quarter catastrophe losses will fall on its global housing business segment.
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The company has requested state-wide changes to its multi-peril homeowners account.
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The former Ironshore International CEO was most recently chief client officer of Liberty Mutual’s Global Risk Solutions.
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The trade body says its members returned $4bn to policyholders during the first half of 2020.
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The carrier is expected to garner the highest IPO valuation of any InsurTech to date, overtaking Lemonade’s $1.6bn debut price tag.
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The rideshare company has also deepened its existing partnership with Progressive.
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Observable real-time data for September shows an estimated decline in auto accidents of 11%.
