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At the time of publication, only a small number of carriers remain to be affirmed, including People's Trust and Cypress P&C. -
The acquisition will enable the Japanese carrier to expand further into the US and across a host of insurance lines, including property and marine.
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The parties will develop climate-conditioned wildfire event catalogs to support cat modelling.
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The Florida firm lost its rating from Demotech last week.
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Nicole Fried cited her department’s duty to act in consumers’ best interests.
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The company sees and opportunity to grow market share in the state.
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The carrier said pricing on property quota share, particularly in the US, was not keeping pace with inflation.
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The industry is sharpening its exposure forecasting capabilities in response to investor demand.
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The former executive is looking for $40mn to $80mn of new capital, sources suggested.
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While still too early to assess the damage fully, Aon believes the impact on property, infrastructure and agriculture will be significant.
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The carrier had improved its combined ratio by 6 points to 99.4%.
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It is unclear if policies transferred by UPC to other entities through quota shares and renewal rights deals are covered by federal mortgage institutions.
