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The oversubscription may signal additional capacity waiting on the sidelines. -
Ten states joined in the original suit.
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The announcement confirms earlier reports from this publication.
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Rate increases are expected to continue, but at a slower pace.
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Joe Morrello joined the firm in 2022 after serving as E&S property head at Beazley.
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The value of the bridge is estimated at $1.2bn.
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After the 2007-17 decade of “bad underwriting” carriers are recovering from “past sins”.
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Loss ratios and surplus improve for the group, but don’t guarantee this is a turning point.
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Sizeable investment returns masked 10-year high underwriting losses.
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The Truist-owned cat MGA had reduced its line size to $50mn last year.
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London underwriters are getting aggressive in the US.
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The company provides reinsurance to insurers in LatAm and the Caribbean.
