Re/insurers
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The global insurer is buying access to distribution and underwriting at a carrier with a 27% GWP CAGR. -
Both the primary and reinsurance segments benefitted from a light cat year.
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While attritional losses were up for the quarter, those in the carrier’s core business declined.
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CFO Vogt added that the vehicle’s impact from earned premiums should ramp up from 2026 through 2029.
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A re-focus on reinsurance nearly brings Everest back where it started.
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The revised outlooks reflect the difficult moment as Everest moves away from retail.
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Sources said that the businesses in Canada and LatAm were part of Everest’s original plans to sell its retail book.
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AIG has agreed to pay Everest $10mn per month for nine months for transition services.
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The company’s stock fell nearly 9% as the market digested news of an ADC, renewal rights deal and reserve charge.
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The global insurer will need to convince investors on the quality of the book.
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AIG will fold the portfolio into its existing business, leaving the liabilities and legal entities with Everest.
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The appointments are aimed at offering a clearer team structure.
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Cat losses in Q3 were light as peak hurricane season passes without incident.
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The Insurance Insider US news team runs you through the earnings results for the day.
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The protection covers the US insurance book for the 2024 and prior accident years.
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Brian Church has spent 20 years at Chubb.
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E&S is most exposed to growth normalization, private credit is hunting P&C and fronting is deadlocked on exits.
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Insurers are pleased, brokers are looking for trade-offs, and everyone’s talking about Howden.
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When owners are not paying attention, discipline and governance are not top priorities.
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Expansion into adjacent markets, capital return and M&A among top means of capital deployment.
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The executive was most recently serving as CRO – insurance.
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Industry stocks were firmly behind the S&P 500 in Q3.
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Superintendent Harris is stepping down this month after four years of service.
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Winds have strengthened to 80 mph, and the hurricane is expected to intensify further over the next 48 hours.
