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The revision is significantly lower than the $4.5bn October estimate. -
The headcount at the start-up now stands at around 40.
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The carrier’s estimated first event limit could increase 16%, to $1.35bn.
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California homeowners are also expected to move admitted business to E&S.
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AIG, HDI Global and others have settled, while Chubb’s fight continues.
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There’s not much supply in that marketplace, Papadopoulo said.
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The casualty ILS business now has $175mn in capital.
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The bond initially sought $425mn across three tranches.
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Six weeks after the storm, Perils released its first industry-loss estimate at EUR619mn.
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Renewal rates were favorable compared to what could have happened after several hurricanes.
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The firm’s assets under management were down $300mn in Q1 as performance fee income was hit.
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January’s California wildfires meant third-party investors suffered a loss of $195.3mn.
