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More than 4,000 acres are burning as thousands evacuate. -
The new agreement provides $40mn of aggregate limit excess of zero.
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In the US, pricing fell by 6.2% at the major renewal.
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The $2bn+ raise would likely rest on the base case of an IPO in the medium term.
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The executive has also worked for AIG and Ace.
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The multi-day weather outbreak caused widespread damage from Texas to the Carolinas.
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CA insurers can now use forward-looking cat models in ratemaking.
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Abundant capacity was driven by reinsurers’ retained earnings after two profitable years.
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An 11th-hour softening has driven discounts into double-digit territory on some deals.
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After two payments, the transaction is expected to be complete in February 2025.
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Insurers are also required to increase coverage in wildfire-prone areas.
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The firm has commenced writing collateralized retro and reinsurance, but its rated launch is still pending.
