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Catastrophe losses in Q1 exceeded $50bn, the second highest on record. -
The executive will be responsible for leading E&S primary and excess casualty.
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The company filed its S-1 in March, with a 2024 CoR of 93.9%.
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HCI secured three towers with $3.5bn in XoL coverage.
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The executive was previously president of insurance programs.
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The purchase aims to bolster Markel’s marine product line in the Asia-Pacific region and EU.
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The legislature did pass Twia reforms, however.
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The executive will remain CEO of reinsurance until September 1.
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The executive said he left the company in September.
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The reinsurer confirmed Andrew Phelan’s exit, as of 15 May.
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The Floridian brokerage expects to bring its leverage levels below 4x later this year.
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The executive has over 30 years of finance and industry experience.
