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Axis is retroceding $2.3bn of reinsurance segment reserves to Enstar. -
However, the firm will take a “conservative approach” until the improvements are shown in data.
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Lucy Clarke said the broking business was resilient in the face of macro challenges.
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The only major product line to see rate increases was casualty.
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In a post on LinkedIn, Steve Arora said investor appetite “just wasn’t there”.
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The Insurance Insider US news team runs you through the earnings results for the day.
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Severe weather in March drove monthly and Q1 losses to historic highs.
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The Kelso and Arch-backed run-off player has retained Evercore to advise.
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SCS losses were also above average in Q1 due to “lingering” La Niña conditions.
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The legacy carrier reported an operating loss of $45.3mn for the year.
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Insurance Insider US explores the economics of the lift-out growth strategy.
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The CUO’s turnover closely follows that of the CEO.
