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The funding round valued the company at around $850mn. -
Excess/umbrella liability and commercial auto broke the trend with high price increases, however.
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Executives see earnings benefits from workers’ comp beginning to diminish.
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Some $4.8bn of reinsurance and cat bond limit will come up for renewal in 2025.
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Wows will offer coverage tailored to high-value properties, written on non-admitted paper.
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The commissioner said in a legal bulletin that smoke claims can’t be “summarily denied”.
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The company said it now expects the transaction to close in H2 2025.
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Competition for specialty reinsurance talent remains high.
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Insurers and distributors must adapt or risk irrelevance.
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The unfunded commitment related to the investment was $24.4mn in 2024.
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John Howard was appointed as an independent, non-executive member.
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The executive joined the Bancolombia-owned insurer as CEO in early 2020.
