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The company is seeking to promote growth in its US excess casualty book. -
The industry continues to take reserve addition medicine in smaller doses than recommended.
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The executives will join the company in the coming weeks.
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The funding round valued the company at around $850mn.
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Excess/umbrella liability and commercial auto broke the trend with high price increases, however.
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Executives see earnings benefits from workers’ comp beginning to diminish.
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The company said it now expects the transaction to close in H2 2025.
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Insurers and distributors must adapt or risk irrelevance.
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The market is up against emerging risks and a whole heap of uncertainty.
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The executive joined the Bancolombia-owned insurer as CEO in early 2020.
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The industry needs to find a way to rebalance power dynamics.
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Hippo estimated its pre-tax cat loss from the LA wildfires at $42mn.
