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Third-party reinsurance capital was predicted to hit $95bn in 2022.
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Odyssey Group’s cyber chief Robert O’Connell is looking to raise up to $1bn of capital for a monoline cyber reinsurer.
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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 executive added that the second quarter saw a larger movement of business into E&S due to the challenging reinsurance renewal cycle for the admitted market.
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The company attributed its Q2 performance to rate adequacy improvements and a 10% favorable loss reserve development on attritional losses from prior periods.
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The intermediary raised its forecasted range for organic for the full year to 16.5% to 18%.
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Zurich NA grew gross written premium by 14% to over $11.3bn as rates jumped 9% in the period.
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The specialty line carrier’s combined ratio improved by 2.4 points to 91.8% during the quarter.
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The InsurTechs’ results show the path to profitability remains unclear, even as Lemonade said it expects to be self-funding from here.
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The company delayed once again the launch of its partnership with State Farm to the first half of next year from Q4.
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The firm needs to get a grip in HNW, dial up commercial lines growth, cut through the Corebridge knot and then an acquisition will be next.
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Inside P&C’s morning summary of the key stories to get you up to speed fast.