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The market has passed a watershed around the apportionment of losses for attritional cat events between insurers and reinsurers.
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Industry loss estimates range from $3bn to $10bn, but loss figures will become clearer in the days to come.
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In a recent report titled “TFC: Primed for activist”, Wells Fargo notes investor discontent and lists pressing issues to be addressed at Truist.
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The consequences of Vesttoo will hurt the fronting companies, but the changes are less important than the role it plays in uncovering what was already there.
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The question of how to finance the private brokers no longer begins and ends with a PE flip.
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Areas of focus should include hiring external talent, securing capital for M&A, speeding up US growth, and answering the reinsurance question.
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Adoption of telematics is the first step, but the next step is analyzing the data and using it to make better drivers via retraining, rewards and incentives.
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The carrier could be the first tech-enabled underwriting business to test public investor appetite since the heady days of 2020.
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A recent report from Howden shows ransomware activity is up 48% year-on-year.
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The first signs of limit expansion, growing appetite in the admitted market, and retail brokers' impatience with wholesalers are all evident.
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The group’s returns have been driven by Two Sigma, but the total return model is perceived as toxic.
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Right now firms pursuing this strategy are winning, although there are some potential slow-burn issues to watch.