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This was the second issuance completed by Farmers via its Bermuda reinsurance vehicle Topanga Re. -
The SPV will underwrite a “broad and highly diversified” portion of Amwins’ ~$6bn delegated authority premiums.
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The company named two execs to head global wholesale and commercial.
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Valor Equity led the raise, which included Lightspeed and General Catalyst.
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Ackman is targeting high-teens RoE at Vantage via underwriting gains and equity investing.
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Inflation was down from the 3% recorded for the 12 months ending in September.
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The deal follows a minority investment from the insurer in the summer.
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Lower rates, more favorable policies and improved public cyber infrastructure are all contributing to the trend.
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The Carlyle and Hellman & Friedman vehicle will sell for 1.5x book value.
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The federal judge said South has direct knowledge about a previous raid involving Aon.
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The National Council of Insurance Legislators said insurance oversight should be left to states.
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The parties now have 60 days to file a stipulation to dismiss the action.
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Justin Camara was EVP and portfolio director for financial and professional liability.
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The finance committee discussed shifting market dynamics as tort reform takes effect.
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The commissioner said more work needs to be done, but big companies are interested in coming back.
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Several of Henrietta Butcher’s former Tysers colleagues have also moved to Lockton Re.
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A district court judge had dismissed the case in September, with prejudice.
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The company also promoted Zulma Suarez to CEO of Colombia and Venezuela.
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Sources said the auction launched after Thanksgiving with Relation marketed off adjusted Ebitda of around $130mn.
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HSB CEO Greg Barats and American Modern CEO Andreas Kleiner will retire at the end of Q1 2026.
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The Floridian also anticipates $115mn to $125mn in net income for the quarter.
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The deal valued the tech-driven broker at over ~21x 2025 adjusted Ebitda, suggesting a hefty premium.
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Clifford’s appointment follows Everest’s $2bn renewal rights sale to AIG.
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Insurance deals leader Mark Friedman said there is a backlog of companies looking to go public.
