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Sources said preparations for a 2024 IPO were halted, but work could resume later this year. -
The approval takes account of several out-of-court settlements.
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The US tallies $97bn in economic losses from major perils each year.
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The firm received a long-term ICR of a- and the outlook for both ratings is stable.
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The vast majority of 2023 recoveries were from events in prior years.
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The vulnerability updates are the biggest driver of loss changes.
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The notes were further marked down after a year-end Ian loss update.
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The outlook for M&A activity is brighter after 2023 returns.
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The executive previously served at McGill and Partners and Willis Re.
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The expected spend is around 33% higher than Twia had budgeted.
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The event occurred a fortnight after major North Island flooding in New Zealand.
