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The carrier said it expected its Milton losses to fall below its EUR500mn ($537mn) Helene loss. -
Stokes has been with Pillar for nearly four years.
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Only around EUR70mn-EUR140mn will fall to private insurers.
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The firm’s AuM in four key vehicles rose $526mn in Q3.
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The firm sees a "robust" pipeline of potential investors ahead of the renewals.
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The Floridian also announced the completion of its first-ever takeout from Florida Citizens.
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Ceded losses grew by 69.2% in Q3 from the prior year quarter to $44mn.
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The combined ratio included 17 points of catastrophe losses in the third quarter.
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CEO Adrian Cox said Beazley’s recent $290mn ILW purchase was not driven by “capital flexibility in and of itself”.
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Most of the losses derive from France.
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Latest pricing suggests secondary market traders are baking in further loss development.
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The firm will provide an update on 22 November to avoid holiday season.
