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CEO Kieran Dempsey will relinquish the additional title of president. -
Price Forbes operations in Miami, Chile and Peru will report to Mulic.
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Consolidation options include fronts merging, competition, larger fronts becoming carriers and fronts being acquired by carriers.
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Its full-year combined ratio for 2024 ballooned to 334.6%, from 124.7% in 2023.
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The underwriter will be based in New York and drive underwriting strategy.
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Markel also announced the appointment of Jon Michael to its board.
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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.
