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Garamoni has left Chicago to join property cat-focused Orchid Insurance in Florida.
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The M&A deals were predominantly mergers, but there was some activity on the acquisition side as well.
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Bar claims its Lloyd’s policy covers BI losses from state-ordered shutdown.
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Mid-year is the next major possible exit date for ILS investors in illiquid strategies.
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CEO Bob Ritchie said entering the cat bond market offered stability for the company and policyholders.
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The pandemic financial crisis led to the M&A deal being dropped.
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The approaching three-year statute of limitations on Irma claims could prompt another spike in AOB issues, warned FedNat.
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The losses include those of the parent company as well as Monarch National Insurance Company.
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The carrier said it has already secured two-thirds of the private reinsurance limit it will place this year.
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Demand for the transaction, which doubled in size during marketing, demonstrates a renewed appetite for Florida risk this year on the cat bond market.
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Kevin O’Donnell said that several domestic insurers in Florida are now close to exhausting their 2017 treaties.
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The ratings agency noted that numerous insurers in the state are highly dependent on reinsurance, putting them in a tight spot.