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Attachment points are unlikely to return to pre-correction levels any time soon. -
Supply generally exceeded demand and trading relationships were strong, CEO Tom Wakefield said.
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An 11th-hour softening has driven discounts into double-digit territory on some deals.
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After two payments, the transaction is expected to be complete in February 2025.
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Insurers are also required to increase coverage in wildfire-prone areas.
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In property, Canada, Central and Eastern Europe and UAE renewals were impacted by losses.
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The firm has commenced writing collateralized retro and reinsurance, but its rated launch is still pending.
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California’s crisis spurred the biggest reforms in decades.
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The new, publicly listed specialty program group will be led by Luke Ledbetter.
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The broker said demand grew more slowly than reinsurer appetite.
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A look back at the stories that defined the year in P&C for 2024.
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The program was developed in collaboration with Allianz Commercial.
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