North America
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Hurricane Delta triggered the carrier’s aggregate reinsurance programme.
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Florida rivals Universal and United had previously announced quarterly cat loss totals of $58mn and $135mn apiece.
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His appointment comes after Steve Bitar took over as CEO in April.
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The PE house and the London market wholesaler will submit bids in just over a week.
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James Tees joins the new professional lines-focused insurer as CFO, and David Newman becomes CUO.
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The rating actions follow "diminished results" since 2016, the agency said.
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The company has requested state-wide changes to its multi-peril homeowners account.
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The reinsurance start-up could list on the London Stock Exchange in November.
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Liability account move is latest development in ongoing reinsurance buying overhaul.
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Updated figures include roughly 25,000 more policies than Citizens had predicted in June.
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In June, the company renewed its reinsurance program, holding the program’s retention for Florida events steady at $43mn.
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The carrier had topped up its cover earlier this month after Laura triggered recoveries.
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