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The impact of the pandemic on the mortgage insurance market has been muted thus far.
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The carrier has agreed to reinsure legacy business underwritten by Zurich from 1 October 2015 to 30 September 2018.
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As the pandemic unfolds, the mortgage (re)insurance market—a boon to the industry since the last economic crisis—is more exposed to the larger macroeconomic cycle than the traditional P&C business. -
Aspen is the latest to pass the risk of unfavourable reserve development on to reinsurers.
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The carriers claim in a lawsuit that Maiden wrongfully stopped paying claims in late 2018.
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The stock-performance-related plan comes as the carrier extends Dominic Silvester's contract, and those of the president and COO, by three years.
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Legacy specialist continues expansion with first Montana captive.
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The legacy carrier is understood to be looking for a replacement with public sector experience.
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The Pine Brook founder (pictured) becomes deputy chairman immediately and will take the chairman's role in about a year's time.
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The live carrier will cease writing business with immediate effect and become a platform for the legacy acquirer's Asian run-off expansion.
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The legacy carrier is in line to seal RITC deals following the closure of its acquisition of CTMA and Syndicate 1884.
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The ratings agency said the transaction reduced the carrier’s exposure to higher risk legacy products.
