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The company’s stock fell nearly 9% as the market digested news of an ADC, renewal rights deal and reserve charge. -
The appointments are aimed at offering a clearer team structure.
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As both carriers and reinsurers deal with softening markets, all eyes are on hurricane-prone areas.
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Reinsurer executives during a Aon reinsurer panel stressed that the industry worked hard on setting the right structure.
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Sources said that the carrier has held preliminary talks with private debt investors.
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The fundraising focus comes after it was acquired by The Baldwin Group in Q1.
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Reinsurers and their cedants are feeling their books are in better shape, although the market is still uneven.
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Rates will remain elevated in a period of structurally higher risk premia.
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Supply for property outstrips demand, but the casualty market is “bifurcated”.
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The CEO said the carrier will prioritise margin over top-line growth.
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The vehicle will support Ascot’s casualty business in the US and Bermuda.
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The executive left Lockton Re in June after almost six years.
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