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Reinsurers are more bullish about their prospects than they have been in years, but start-up and ILS fundraising is a desert. -
The funds are expected to drive additional growth through market expansion and accelerate the deployment of Patra's technologies.
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Sources noted that competition has expanded from excess layers into the primary market – and that has been a major development since the beginning of the year.
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The new funding brings the total Ategrity has received from Zimmer since 2018 to $300mn.
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A differentiated investment strategy has led to increased value creation and price-to-book multiples for a small group of specialty carriers.
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Berkley also increased its position in Global Indemnity and now owns around 8.5% of the firm.
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Inside P&C’s morning summary of the key stories to get you up to speed fast.
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The stock was down $5.91 early trading hours from its close of $32.22 on Monday.
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Pressure on the Californian insurer’s stock mounted this morning after it reported a Q2 11.7-point deterioration in its combined ratio to 106.6% yesterday.
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The shares are trading today at $98.56 per share, down 13.13% from yesterday's close.
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The downward trend of securities class actions against public companies is expected to continue in 2022, with the annual filings projected to drop by 7% this year, Woodruff Sawyer said.
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The executive discussed InsurTech challenges, his priorities for Branch, fundraising, and his concerns about the capital markets.
