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Q2 was the ninth consecutive quarter of year-over-year price decreases.
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The broker hired Bruna Reis, Renée Bradbury, Gabriela Coelho and Luis Felipe Melo.
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The carrier is expanding its MGA partnerships and has invested in its marine team.
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He will continue to act in his role as COO, global insurance operations.
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The broker said that rising reinsurance costs after the Baltimore Bridge collapse could put a brake on softening in 2025.
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The deal values the business just under its closing price on Friday, at 0.97x book value.
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CinFin added reserves in Q2 after incurred losses emerged higher than expected.
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The CEO estimated that the loss trend is running in the high 5% range, slightly below the carrier’s rate increase.
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The arrangement enables PCS to expedite growth.
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The firm said losses could fall under $300mn if more favourable assumptions were applied.
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The investment will be used to scale operations and extend Cowbell's presence in key international markets.
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NatGen allegedly collected $500mn associated with the fraud.