Stocks
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The tactic comes after the investors had three nominees installed on the risk modeller’s board this week.
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Following the sixth compulsory redemption the fund will have returned $271.3mn to shareholders.
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The InsurTech will merge with ISNU II in a transaction that values the company at about $956mn. -
Suncorp, IAG and QBE reinsurers could face significant recoveries after a landmark court ruling.
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The Floridian carrier has agreed terms for a new reinsurance treaty that increases its cession rate by eight points to 30.5%.
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The three director changes fall short of a proposal by former bidders Senator and Cannae.
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The carrier seeks to address potential BI liabilities following a court ruling.
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A fresh BI ruling in Australia this week highlighted the industry's reason for caution over Covid exposure as legal actions continue.
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The firm said it planned to focus on new vehicles that would increase permanency of third-party capital.
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The carrier plans to raise A$750mn in new equity capital to help shore up its balance sheet, and has further eroded its aggregate reinsurance.
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The ratings agency has given the entity a financial strength assessment of A-.
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GIC said it co-led the consortium of existing and new investors to commit $1bn to the carrier.
