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The additional funding brings Kin’s series D total to $142mn, and its overall equity funding total to $265mn. -
The migration is due to admitted carriers not being able to get the rate filings approved in a lot of the states – an issue that is extending beyond California and Florida, to the east coast.
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This is the second month motor vehicle insurance prices have risen, following a 17.8% hike in July and a 16.9% increase in June.
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However, data also shows that the pace of growth overall in the E&S market has slowed in recent years in terms of premium and number of transactions.
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European and Bermudian reinsurers are expected to be the most favorably affected by the current environment.
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Lawmakers were discussing legislation that would have facilitated insurance commissioner Ricardo Lara’s ability to implement more insurer-friendly regulations, but talks stalled with just one week left in the 2023 legislative session
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Inside P&C’s morning summary of the key stories to get you up to speed fast.
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The founding members include Munich Re, Gallagher Re, and BitSight.
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Although the total deal values for 2022 and 2023 were almost identical, PwC noted that one-third fewer deals were announced in the more recent half-year period.
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Catalina put its Irish subsidiary up for sale in May as it looks to streamline operations.
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Some 15 months on from the property reinsurance exit, he said the firm continued to reserve the right to reshape the portfolio.
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Inside P&C’s news team runs you through the key highlights of the week.
