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The Aspen IPO provides an opportunity to benefit from the specialty market without commensurate prior-year reserve risks due to an LPT cover.
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Kearns and his former employer recently settled a legal dispute following his departure along with two other colleagues last year.
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Prior to his new role, which Matt Prevost began this month, the exec spent nearly 10 years as Chubb’s SVP, cyber and product line manager.
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Carriers will be taking more risk net this year – which may arrest the speed of decline in cyber pricing.
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Rokstone Underwriting has announced a $25mn North American marine facility backed by Allianz Commercial.
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The agency said TRUE’s ratings will remain under review until there is additional clarity surrounding a new business plan.
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The 11th hour settlement came just days before the case was scheduled to be heard by the New Jersey Supreme Court.
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Michael Kehoe will relinquish the president’s role to COO Brian Haney and assume board chairmanship but will remain company CEO.
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Salvatore Sama has been named global product head for casualty, while Jane Farren has been named global head of financial professional lines.
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Booten has been COO at Citizens since May 2020, and at the public insurer in various positions since 2002.
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Under the new agreements, Kingstone will cede 27% of its personal lines insurance written, down from 30% in 2023, and will receive a higher ceding commission rate than in 2023.
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While there’s no evidence that SCS activity is climbing beyond normal bands of variability from a frequency perspective, emerging data signifies that severity could be ticking up.