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It is understood that the company expects to launch its Florida reciprocal in Q4. -
Stable first half insufficient to counterbalance concerns on reserving trends.
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The $1.6bn of cat bond limit on-risk includes $1.1bn Everglades Re mega-bond.
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The proposal now goes to the Florida Office of Insurance Regulation for review.
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The appointment is part of a reorganization of the Americas business.
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Excess capacity rebounded in June 2023 after hitting a decade-low just 12 months earlier.
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The memorandum of understanding will see the two entities share international expertise.
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The program includes all perils coverage and third-event protection.
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The former Everest executive will look to roll out a range of new product lines at the MGA.
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Spreads on all tranches of notes settled above the initially guided range.
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The CEO is one of more than 20 executives who received letters from Floir citing Statute 624.4073.
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These cedants could offer the firm access to support their casualty and specialty lines as well.
