North America
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The company’s convertible notes now have $24mn outstanding.
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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 company will continue to exit non-Florida markets and focus on the local homeowners' sector with increased rates.
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The Senate bill contains a highly debated provision that could cause homeowners to face a new deductible for roof-damage claims.
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As the carrier looks to provide liquidity to its PE backers, it is examining a range of paths to reshuffle the investor base.
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The Floridian carrier recorded $8.1mn cat losses net of reinsurance compared with $27.9mn a year earlier.
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The deal’s exposures are focused in the troubled personal auto market where loss costs have been running ahead of rates.
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Universal Insurance Holdings reported a wider operating loss for the fourth quarter as adverse reserve development offset rising premium driven by rate increases.
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CEO Andy Potash has been seeking a buyer for the business since at least June of last year, and first attempted a sale in 2018.
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The mid-year renewal will be a challenge as rates increase to reflect market costs.
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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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Too many groups have been looking for a free lunch, and when it comes to capital in insurance – you get what you pay for.
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