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Cycle management is key to the long-term success of any start-up carrier. -
He joins from Odyssey Re, where he was treaty underwriting VP.
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The homeowners' CoR fell over 32 points sequentially to 75.8%.
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WTW said adverse development “is evident” in auto liability lines from 2015 to present.
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AM Best then withdrew its ratings at the company’s request.
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It follows Las Vegas intermediary Insurvia, which launched an auction last year.
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After the 2007-17 decade of “bad underwriting” carriers are recovering from “past sins”.
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Based in New York, the executive will report to global head of casualty Josh Everdell.
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The deal comes after Insurvia was seeking a new sponsor.
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The facility will target operators across the US, onshore and offshore.
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Loss ratios and surplus improve for the group, but don’t guarantee this is a turning point.
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It is backed by paper from MS Transverse, this publication understands.
