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The carrier sees opportunities to grow in New York, the mid-Atlantic and Florida. -
CEO Rick McCathron also said the company is seeking to diversify its portfolio.
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The Insurance Insider US news team runs you through the earnings results for the day.
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The loss was driven by nat cats and reserve adjustments in US casualty.
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The company reduced its proportional quota share program from 55% to 20% cession.
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The company also purchased $15mn of SCS parametric coverage.
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The professional lines market remains ‘challenging’ overall, however.
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The specialty reinsurer also saw several bad investments hit the books.
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The carrier’s US redomicile is expected for later this year and brings a one-time $10mn-$13mn benefit.
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The Insurance Insider US news team runs you through the earnings results for the day.
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The Insurance Insider US news team runs you through the earnings results for the day.
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The company has also expanded its relationships with US and UK MGAs.
