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The likes of Genstar, Leonard Green and Bain also looked at the program manager. -
Sources see Aspen as the right fit for Sompo, with Apollo getting a full cash exit.
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The ratings agency cited enhanced scale and diversification through organic growth.
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The firm's risk exchange platform was “highly dependent” on SME and specialty business, CEO Radke said.
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After the LA wildfires in Q1, carriers got some relief in Q2 ahead of wind season.
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Rates are finally flattening, but it’s unclear if stabilization is enough for insurers’ bottom line.
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Sources said that the NY-based TL underwriter has retained Piper Sandler to run the process.
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The lawsuit has been filed as sales talks with Sompo yielded a deal.
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The long-time Allianz and Hive executive will be based in New York City.
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The other liability loss ratio continued to rise as workers’ comp and commercial auto reversed course.
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Last year marked the second consecutive year in which carriers made a positive return.
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Sources said Atlas’ owner is selling the retail agencies but will retain the Hawaii carrier Island Insurance.
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