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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 InsurTech is rapidly expanding its leadership, having announced two C-suite level recruits in May.
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There has been an increasing trend over the last 18 months of strategic-on-InsurTech M&A, albeit on the MGA side.
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The InsurTech aims to write its first policies in the fourth quarter of 2022.
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The announcement comes as the InsurTech MGA expands reinsurance capacity for its clients.
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The InsurTech called the broker a “serial litigant”, notorious for enforcing restrictive covenants to former employees.
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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 believes the company will be able to achieve profitability without raising additional capital.
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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 InsurTechs’ results show the path to profitability remains unclear, even as Lemonade said it expects to be self-funding from here.