Service provider
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The company and its main debt provider Ares agreed to relax its debt terms in April. -
A former NOAA climatologist who left the agency is running the new operation.
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Earlier this year, Insurance Insider US revealed that the PE firm was looking to extend its investment.
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Spectrum joins investors ForgePoint, Hudson and MTech.
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The executive has been with ASG since it was formed in 2016.
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As part of the transaction, PE firm Atlas Merchant has agreed to sell its interest in MarshBerry.
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A survey from PwC described the sector as “stable”, “evolving” and “dynamic”.
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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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The US has been lucky over recent decades to avoid a $100bn insured hurricane event.
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Both organisations still predict an above-average hurricane season.
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The forecast has increased since the early July update due to several additional factors.
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The model becomes the second in the state to get approval to affect ratemaking applications.
