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It is understood that the cut programs include Yachtinsure, Rhino, Paramount, Pinpoint and NTA. -
Backers and CEOs may be wary of falling into the same trap as larger PE-backed retail brokers.
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Sources said that Piper Sandler is running the sale process for the ~$50mn Ebitda business.
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Sources said that a deal between the two sides could be reached in the next couple of weeks.
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Milton and Helene, casualty reserves and growth will be some of this year’s topics.
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Current rates at 2% to 2.5% translate to an 86% incurred loss ratio.
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Nationwide vet Mike Miller is launching the MGA, which focuses on the E&S market.
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The raise includes minority investments from Nationwide, Enstar and others.
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He replaces Richard Goldfarb, who will remain as head of strategy.
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Interest in these vehicles has increased recently, but market softening could throw a curve ball at growth.
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The executive has over 20 years’ worth of actuarial and analytics experience.
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This follows a spate of program manager deals Ryan Specialty has made.
