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Everest Group’s regulatory filing did not give a reason for the resignation. -
The start-up has secured BMA approval as it looks to a 1 January kick-off.
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The new offerings will be part of the specialty reinsurance portfolio.
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Cat losses in reinsurance rose 11.1% year over year to $45.1mn, driven by Hurricane Helene.
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After one good year, giving back margin now will be “inexcusable”, the executive said.
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Cat losses increased 14.6% to $91.6mn, driven by Hurricane Helene and Storm Boris.
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The carrier’s shares declined over 17% this morning following Q3 earnings and strategic actions.
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In other property, Helene and Milton will assure rates remain attractive, he added.
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D&O and D&F are also facing increased competition, but property remains price adequate.
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The company has written over $100mn in gross premium in the US this year.
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The firm is still operating within its catastrophe budget for the year, CEO Scott Egan said.
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RiverStone is assuming $1.2bn of a $1.6bn legacy deal.
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