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Coriolis execs Diego Wauters and Martin Jones will stay for at least two years to continue to run the business.
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Scor chairman and CEO Denis Kessler said the acquisition would help its ILS platform move into the top tier of the market. -
Cohen & Company’s head of US insurance strategies sees ILS opportunities from the new venture and wider business.
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FedNat agreed to acquire 1347 PIH’s homeowners’ insurance operations.
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The Bermuda-based ILS manager has signed up to use the specialist’s climate risk tools.
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The takeover was announced in October last year and all parties now anticipate closing the transaction “as soon as possible”.
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Irish regulations required an early announcement from the firm that it had considered a deal.
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A deal would take the combined entity to the top spot by (re)insurance broking business revenue.
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The ‘blank cheque’ company, led by John Butler, will look to acquire a company within the (re)insurance and InsurTech space.
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The private equity firm has brought in Mark Cloutier as CEO.
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The deal could boost its Lloyd’s capacity by 50 percent.
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