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The $6.7bn Chubb investment is an outlier in the Berkshire portfolio. -
Citizens also secured $1.1bn of limit for its Everglades Re cat bond.
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The conglomerate exited its $620mn position in Markel, which it has held since 2022.
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An overview of Q1 earnings shows upsides, but also plenty of concerns going into the rest of 2024.
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New leaders of these reinsurers have started strong, but Axis still has work to do.
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The broker’s opening price on Friday was $272.10 per share, versus Thursday’s closing price of $306.
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Earlier today, the carrier reported that its Q1 combined ratio came in at 88.8%, down from last Q1’s 90.6%.
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Sources said Piper Sandler will run the auction for the CIVC-backed firm.
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P&C buybacks have continued to decline, but large authorizations keep companies flexible.
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It is understood that the company aims to launch in Q3 or Q4 of this year.
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Sources said the process will target buyout firms and will not be open to trade bidders.
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Hiscox, Intact Ventures, Weatherford and RPM Ventures participated in the fundraise.
