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The executive joins newly appointed US CEO Justin Camara. -
The program complements the MGA’s middle-market offerings.
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Zaffino will become executive chair of AIG and retire as CEO by mid-year.
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The state is drought-ridden, hail threatened and potentially making major changes this year as a result.
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One avenue for capital freed up by a softer-than-expected renewal could be more M&A.
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The move comes after a 200+ person mass team lift from Brown & Brown’s retail business in the US.
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This is lower than some estimates, which had put insured losses at over $30bn.
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An impending soft market further complicates the outlook for carriers with long-tail casualty exposure.
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The underwriting unit has also rebranded D&O specialist Leopanthera.
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The Insurance Insider US news team runs you through this week’s key agency M&A.
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California and Florida were up significantly, but premium growth slowed in Texas.
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The president and CEO will also be eligible for up to $50mn in shares.
