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The move follows commentary on loss cost inflation exceeding rate rises in Q4 across Markel’s portfolio, driven by lines including public D&O and financial institutions. -
The moves follow RenRe’s positive feedback on January 1 renewals, and UPC selling most of its outstanding policies in Florida to InsurTech Slide.
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A deal would give the broker the funds needed to finance its growth strategy, extending its IPO timeline at least into next year.
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Broker and commercial carrier trends align on economic indicators but diverge on stock performance and 2023 consensus estimates.
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Established players are walking away from writing IPO, SPAC and de-SPAC accounts as increased capacity and falling demand in the sub-class causes rates to crater.
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After market close on Wednesday, the carrier disclosed an estimated combined ratio of 109.1% for the quarter, adding 10 points year on year.
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This publication revealed this morning that Bain-backed retail broker raised ~$100mn of preference shares in a deal with the private equity.
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Increased interest rates and unfavorable market conditions led to reduction in capital issuance activity in the P&C insurance industry in 2022.
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Inside P&C’s news team runs you through the key highlights of the week.
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Price-to-book multiples for insurers have increased materially over the last two years, but drops in equity partially drove the increase due to unrealized losses.
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Media reports said a group of Carvana’s 10 biggest lenders holding around $4bn of the company's unsecured debt have made a three-month pact to act together in the case of restructuring.
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Executive chairman Bill Berkley expects the company’s returns to reach or exceed its targeted 15% rate, driven by its investment income results.
