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The Bain-backed fronting carrier acquired Spinnaker’s shell subsidiary earlier this year. -
Executives said the company continues to shrink its book of business in markets with poor underwriting conditions.
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Following the closing of the deal, Aviad Pinkovezky will be named First Connect CEO.
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The UK and Ireland have also seen “increased activity”, with four deals announced.
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The storm caused major damage to one of the drinks company’s warehouses in Tennessee.
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The wildfire started Wednesday and is 0% contained so far.
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D&O and D&F are also facing increased competition, but property remains price adequate.
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Arch stands out among hybrids, but Axis and Everest grind it out.
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The carrier’s Q3 net income will be around $100mn, far below consensus.
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The carrier increased specialty premium by 39% by the nine-month mark.
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Earnings call commentary shows pockets of casualty reserve strengthening for AY 2020-2023.
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The carrier said activity across smaller and mid-sized natural catastrophe and risk events had been “elevated”.
