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The Floridian also secured $352mn of multi-year coverage extending to 2027. -
The company’s credit ratings had been under review since early this year.
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Companies often purchase policies with limits far exceeding their actual exposure needs.
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The executive replaces Mike Warwicker, who left the firm earlier this year.
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A 20% increase in FHCF retention levels sent cedants to the private market.
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The collective CoR of 45 Floridians hit 93.1% in 2024
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Rate cuts are slowing as insurers agonize over claims trends, but capacity is high.
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Bredahl has been appointed CEO and Bonneau as chairman.
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Acrisure recently raised $2.1bn from investors in its latest step towards an IPO.
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Rates and limits have done the heavy lifting to date – but there are other options.
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The changes are aimed at improving underwriting and operational performance.
