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The Japanese P&C carrier agreed a deal to buy 15% of WR Berkley shares in March.
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Fontana 2.0 will encompass a more flexible investment strategy than the 2022 vehicle.
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The investor offloaded nearly 100,000 Allstate shares in Q3, according to its latest 13-F.
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The $21/share pricing falls in the middle of the expected range.
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Fears of the oncoming soft market are causing a sector rotation away from P&C.
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CFO Vogt added that the vehicle’s impact from earned premiums should ramp up from 2026 through 2029.
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The CEO noted that 45% of Everest’s US casualty book did not renew this quarter.
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MultiStrat, the founder of casualty ILS, is focusing on committed capital to grow, said Bob Forness, CEO, MultiStrat.
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The selloff may hint at headwinds for equity investors.
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E&S is most exposed to growth normalization, private credit is hunting P&C and fronting is deadlocked on exits.
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It is understood around $1bn of premiums could be ceded to the proposed vehicle.
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Industry stocks were firmly behind the S&P 500 in Q3.
