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The rating could fall if the company fails to meet deadlines, the agency has warned.
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Twelve Capital's Urs Ramseier says the potential for more distressed opportunities to appear will depend on the extent to which carriers pass on increased reinsurance costs to policyholders -
The moves follow last month’s announcement that R Daniel Peed would become CEO following John Forney’s departure.
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The ratings agency expects the residual market to grow as private carriers are under pressure.
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The figure was net of reinsurance recoveries and connected to 15 events in the quarter.
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The Florida Senator says tackling legal fees is a priority as demand for reform grows – but it will take time to implement.
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In its complaint Citizens accuses Strems Law Firm of “egregious dilatory tactics”.
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Florida Citizens received more than 500 new Irma claims each month up until April, which has slowed 30 percent from 2019.
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The deal will see HSCM founder Millette and HSCM Bermuda clients assume majority control of the holding company.
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Interim leader Larry Swets was CEO of auto insurer Kingsway.
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Lower deployable capacity and looming Covid risks added pressure, the firm said.
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The total premium outlay for the programme rose by 10% to $272mn.
