Stocks
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The company acts as reinsurer and shares the risk with the Natural Disaster Fund.
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The name change follows Gallagher’s January buyout of the outstanding shares in the company.
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The Farm Bureau programmes feature strong Lloyd's participation, while depop carriers are ones to watch.
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Depop insurers will be closely watched. -
The state insurer of last resort buys cover from a much lower-attaching level than its Texas peer.
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The release from side pockets will be paid to the company in October.
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Both companies secure more than 95% shareholder support for the transaction.
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The companies claim “overwhelming” investor support at meetings today.
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The tropical storm – expected to be a hurricane when it hits the Gulf Coast – could have a different impact.
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The company said it was liaising with cedants about effects of subrogation payments from PG&E.
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The release largely stemmed from 2019 side pockets, reducing this year's remaining trapped capital by a third.
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The former Aon Global and RFIB chair is the latest big name at the InsurTech.
