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The carrier reported a Q4 consolidated loss ratio of 39.4%, down one point on the year as claims frequency declined while severity stabilized towards the end of the year.
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Property cat rates went up 50% while aviation, PVT and marine saw rises of around 25%+ during January renewals.
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2022 statutory data is now available, and results show winners and losers
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Hedge fund reinsurer Greenlight Re posted a 57.2% loss ratio for the fourth quarter, marking a 1.6-point improvement from the prior-year period.
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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 Bermudian’s underwriting profit and combined ratio worsened due to an increase in claims.
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The carrier currently offers excess and surplus lines products in Carolina and Florida.
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The insurer will continue growing via M&A and is looking for $50mn-$500mn specialty businesses with strong leadership to expand its portfolio.
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Inside P&C’s news team runs you through the key highlights of the week.
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The company expects to turn adjusted Ebidta positive by the end of 2024 with cash of at least $400mn.
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The New York-based InsurTech expects to complete the necessary work to file its annual report within the extension period provided by SEC rules.