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The programme was "oversubscribed on all dimensions”, the company said.
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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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This would be a premium to Root’s closing price on Tuesday of $6.02 per share, which gives the company a market value just north of $80mn, significantly below its peak of roughly $7.5bn.
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The Salt Lake City-based InsurTech said Canopius will join Scor, which has been providing underwriting capacity to Measured.
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Adir founder Barry Karfunkel will join Precedent's board of directors and serve as chairman of the board.
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InsurTechs are still the most heavily shorted among P&C names, though they likely have been beneficiaries of a short squeeze for most of 2023.
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InsurTech players shift attention to embedded solutions and MGA/MGU strategies at the Insurtech Insights conference.
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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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Branch faces the same issues as others in personal lines, as it tries to gain control of loss ratios and achieve rate adequacy.
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There are two camps of InsurTechs raising capital currently: the ones who need it and may not get it and the ones who have it and want more of it.
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Duck Creek has appointed Chris McCloskey as chief operating officer.
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The company is raising a sidecar through JP Morgan for additional capacity from outside investors.