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CEO Jack Kudale recognized there still is a supply issue in cyber and noted that Cowbell is considering options such as the ILS market and reinsurance sidecars.
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Tadikonda will join the Corvus board of directors and will report directly to the board.
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Nichols served as Interim CEO and chairman of the board at Protective Insurance Company.
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The executive named cat events and persistent levels of high inflation as two other factors that could “put an unforeseen dent to our loss ratios for the next few quarters”.
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Lemonade said “ballooning costs will remain a topic of concern as long as they persist” while inflation accelerates.
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The company also brought in WR Berkley’s John Littzi as general counsel and Julie Richardson as a board member, following a $250mn funding round in July.
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It is understood that Slide has engaged investment banking firm Paulson Investment Company as an adviser in the process.
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Deal flow for InsurTech funding dropped by 7.7% in the quarter, while the average deal size rose by 18% to $22mn.
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The all-cash deal was completed following the closure of Metromile’s $500mn acquisition by Lemonade last week.
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CEO Sean Harper expects the company to achieve positive operating profit by Q4 2022.
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