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Zaffino said the divested crop and travel businesses needed scale to be more profitable. -
The broker reported that global reinsurer capital reached a record of $695bn as of June 30.
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The deal helps boost Davies’ growth across North America and Canada.
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The executive succeeds Tim Ryan, who was recently appointed as the firm’s US president.
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This publication reported Melvin’s hire on Wednesday.
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The acquisition marks Bishop Street’s entry into commercial lines.
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With the disposal, TIH would amass a robust war chest for a looming MGA consolidation arms race.
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Mullarkey joins from Allianz Global Corporate & Specialty.
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“They want to grow their portfolios,” Guy Carpenter's CEO added.
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The take-private is expected to close by mid-2025.
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“Consoloonan” are set to return to the public markets over a decade after their last conference call.
