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The firm expects to replace the volume with Innovations-channel business. -
Hamilton also expects rising demand and stable supply for June 1 renewals.
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Jack Kuhn, President of Westfield Specialty, discusses the shifting market cycles and changing landscape at RISKWORLD 2025.
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The reinsurer also promoted Ethan Allen to chief program officer.
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The only major product line to see rate increases was casualty.
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The vehicle will take a quota share of all of the risks underwritten by Ryan Specialty’s MGA arm.
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The executive has managed both casualty and personal lines reinsurance books.
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The executive was Everest CEO from 1994 to 2013 and has served as board chair since 1994.
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Instead, the reinsurer plans to write more casualty business through its innovations book.
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Industry sources estimate the market to be around $3bn.
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The firm projects losses from the fires at between $160mn-$190mn.
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Many cedants secured aggregate and subsequent coverage at 1 January.
