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The executive has been with the firm for more than 14 years. -
Additional investors include Fidelity, Apollo Funds and Gallatin Point.
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The sale process was first reported by this publication three months ago.
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As with 2024, pricing pressure has been most acute on top layers.
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"Smoke damage is real damage," Commissioner Lara said.
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The assumption date for the combined 16,250 policies is August 19.
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Permanence and independence of a public company would be valuable, he told this publication.
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The industry veteran has also held roles at Marsh, Willis and CNA.
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Lloyd’s traditionally avoided US middle market property, but head of P&C Matt Keeping says times have changed.
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The executive had served as chief investment officer since 2000.
