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CEO Greenberg cited ‘competing priorities’ in his annual letter to shareholders. -
The MGA recently secured capacity to write HNW homes in California.
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The company is seeking to expand in the reinsurance and retrocession markets.
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The carrier was seeking to expand its March 1-renewing program.
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He also joined Everest’s board last week as an independent director.
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While significant, the fires are expected to be an earnings rather than a capital event for the industry, John Huff, CEO of the Association of Bermuda Insurers & Reinsurers, said.
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A rebound is expected this year, however, led by strong US activity.
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The move combines two units in the North America middle market division.
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“We do not have the luxury of time,” he said during the Bermuda Risk Summit.
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Admitted insurer withdrawals and rising demand are pushing more entrants into E&S.
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Last year, the firm consolidated financial and excess liability lines under the leadership of Richard Porter.
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Sources said that the broking giant will look to add around 10 additional backers at a $30bn EV.
