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Markel also announced the appointment of Jon Michael to its board. -
The executive will remain with the firm as a senior adviser to the CEO until mid-2026.
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The insurance industry has experienced mounting losses from severe convective storms.
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She replaces Matt Westhoff, who left in October to lead QBE NA.
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Commissioner Lara also proposed a $500mn cash infusion from parent State Farm.
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A quick roundup of our best journalism for the week.
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Shareholders say the stock has declined around 59% in the past year while book value has dropped ~30%.
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Of the 178 passengers and crew on board, no serious injuries have been reported.
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The Democratic senator said increased federal oversight of insurance is not the answer.
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Kathleen Reardon, CEO of Hiscox Re & ILS, also talked about the impact of the California wildfires and why it’s important for cedants to work with a reinsurer with strong underwriting and modelling skills when disaster strikes.
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CEO Greenberg cited ‘competing priorities’ in his annual letter to shareholders.
