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The firm is still operating within its catastrophe budget for the year, CEO Scott Egan said. -
Sources said the brokers are in the final stages and could seal a deal in the next couple of weeks.
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It is understood the executive will join the carrier later this year.
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The estimate implies a roughly $15bn homeowners’ industry loss from the hurricane.
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RiverStone is assuming $1.2bn of a $1.6bn legacy deal.
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Arch is assuming an industry loss related to Helene in the $12bn-$14bn range.
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The company’s reshaping of the book will be substantially completed by year end.
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Andrade flagged expected 5% to 10% increases in the US and Europe.
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The promotion is effective as of January 1.
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The loss tally is considerably lower than estimates issued by model vendors.
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Insured losses for 9M 2024 have hit $102bn, according to a report.
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