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The Aon unit noted 37 LOCs “purportedly procured by China Construction Bank (CCB), Banco Santander and Standard Chartered Bank US”. -
The story will play out through bankruptcy court filings, but other exposed players and segments will be on watch for ratings agency findings and legal action.
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Schawe joins the San Francisco-based brokerage after over four years at Marsh, where he was managing director and head of office.
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The company's Ebitda for 2022 was estimated at $60mn compared to $20mn in 2021.
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Both organizations have agreed for the appointment of a liquidator for Vesttoo transaction structures at the Supreme Court of Bermuda.
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Sources added that the company will continue to monitor portfolio performance to reopen business on a state-by-state basis.
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On the surface, InsurTech results were better than the noise from incumbents, but caution is needed to ascertain the quality of new business coming in during a time when even industry leaders stumble.
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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 joined the San Francisco-based brokerage in 2020 after almost six years at MCM, where she was marine account manager.
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The policies are issued by At-Bay Specialty Insurance Company, the Delaware-based E&S insurer the InsurTech acquired from XL America in January.
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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 Inside P&C news team runs you through the earnings results for the day.
