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The spillover impact from the LA wildfires will play a major role in how much reinsurance capacity will be available. -
The start-up has achieved an A- credit rating from AM Best.
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But cat bonds are experiencing negative secondary market price movement.
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The restructuring arrangement is designed to protect creditors.
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The agency said it does not expect a “material impact” from the charge.
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The event now includes a casualty portion and has officially been re-branded as the Property and Casualty Symposium.
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Guy Carp CEO Dean Klisura said LA wildfires could slow rate reductions at 1 April.
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The carrier’s year-end kitchen sink action is a make-or-break moment for a troubled franchise.
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The impact of the devastating California wildfires is too early to ascertain, executives said during earnings calls.
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The figure does not include specie or auto losses.
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The nationwide carrier ranked sixth for multi-peril California homeowners' insurance in 2023.
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CEO Jim Williamson said social inflation was a “growing barrier” to a vibrant economy.
