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Despite rate reductions accelerating, the sector-wide combined ratio is set to remain below 90% through 2027. -
P&C stocks recovered faster than the S&P 500 following a late July dip, but a gap remains.
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The executive will oversee the direction and management of the firm’s liability portfolio across the US and Canada.
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The executive most recently served as head of North American treaty reinsurance.
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The US specialty carrier announced Tuesday that it was buying the Lloyd's business for $555mn.
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The PE-backed MGA has Morgan Stanley, Bank of America and JPMorgan advising.
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Aon acquired NFP from Madison Dearborn in April last year in a $13.4bn deal.
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High H1 reserve releases of $7.4bn were driven by the largest of carriers.
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In June, this publication revealed that Apollo had appointed Evercore and Howden to run a process.
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Arkansas-based RVU provides commercial P&C and some specialty programs.
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The executive said claims can be a differentiator in a softening market.
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CEO Tom Wakefield said property cat supply is “materially outpacing demand”.
