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APCIA Annual Meeting 2024
Intro
Insurance Insider US will be on the ground at APCIA 2024 from 6-8 October in Chicago. We'll deliver exclusive news and insights from the ground, available via this hub and our daily email newsletters. Subscribe now for access to our content or email us to connect at the event.
Latest News
Latest News
Monte Carlo postcard: Confidence wobbles on recent accident years for US casualty
US liability was a hot topic at the European conference.
The casualty conundrum: Seven questions that should shape our perspective
Legal trends, the primary pricing micro-cycle and other factors all play into an opaque outlook.
North American market most active for legacy deals: PwC
Future deal flow in the US could come from more adequately reserved liability lines.
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The deal values the business just under its closing price on Friday, at 0.97x book value.
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The Longtail Re deal buys the specialty insurer time to secure its future, or an exit for shareholders.
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Acquirers are increasingly discerning around deals, according to a report.
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State National is providing $160mn of adverse development reinsurance coverage.
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Enstar will provide $430mn of excess cover over ~$1.7bn of underlying reserves.
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The liquidation will let the company sell its Accredited arm to Onex via an alternative transfer structure.
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The Canadian PE house is delaying close and seeking to renegotiate aspects of the deal.
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Of that total, $312.5mn was allocated to resolve the PFAS claims.
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The vehicle will give the legacy carrier a US platform.
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Enstar recorded $280mn of other income in Q1 2023 related to Enhanzed Re.
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The agreement from Fleming to honour original terms still leaves it open to long-term damage.
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Increasingly, deals are being brought to market but not transacted on.
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The market is shifting towards capital relief, with fewer, larger deals.
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The company reiterated its commitment to consummating the Accredited sale.
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Its PE owners have been exploring strategic options since May last year.
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Axis’s reserve cleanup removes longstanding overhang and narrows the credibility gap.
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The transaction would have been one of the largest the market has seen for years.
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The executive joined the legacy carrier as CIO in 2020.
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As part of the transaction, Carrick will assume the company’s staff and operations.
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Just over half of votes cast were in favour of the $465mn sale to Onex.
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The regulator has also paused the redemption of the company’s $20mn Tier 2 floating-rate subordinated notes.
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Insurance Insider US’s morning summary of the key stories to get you up to speed fast.
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The consideration is expected to be around $140mn plus a $25mn dividend.
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The R&Q share price has plummeted since the sale of the ~$1.8bn-premium fronting arm was announced 10 days ago.
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The revised status follows the recent announcement that R&Q Insurance Holdings has agreed a sale of its Accredited program.