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The Japanese P&C carrier agreed a deal to buy 15% of WR Berkley shares in March. -
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.
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Sources said that the carrier has held preliminary talks with private debt investors.
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Fleming’s attempt follows those of other legacy carriers that have had recent successes raising capital.
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The fundraising focus comes after it was acquired by The Baldwin Group in Q1.
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Ryan Alternative Capital Re was launched in partnership with Axis Capital.
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The Japanese carrier has agreed to buy Aspen for a realization of $3.5bn.
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The insurer has chosen a “take two” deal after buying Endurance, betting again on Bermuda.
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Third Point purchased 50,000 shares of the E&S insurer, which represents roughly 0.1% of its shares outstanding.
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The lawsuit is the latest development in the multi-billion dollar reinsurance scandal.
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The S&P 500 outperforms as P&C tumbles on mixed earnings.
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The president expects to see benefits from the deal in H2 2026.
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The vehicle will support Ascot’s casualty business in the US and Bermuda.
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Brown & Brown fell 10% and Ryan Specialty 8% as investors digest the deteriorating outlook.
