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In a post on LinkedIn, Steve Arora said investor appetite “just wasn’t there”. -
The Kelso and Arch-backed run-off player has retained Evercore to advise.
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London-based US excess casualty writers are increasingly looking to attach lower in the tower.
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He will oversee Ascot’s US and Bermuda insurance and reinsurance companies.
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Despite wildfires, reinsurers are “well positioned to maintain strong profitability in 2025”.
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Chris Jones, Will Shepherd-Barron and David Clark will join the start-up.
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CEO Rinku Patel said the move marked a “clear step change” in Pine Walk’s MGA strategy.
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Instead, the reinsurer plans to write more casualty business through its innovations book.
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Reinsurance and property remained the primary drivers of premium growth.
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The Italian carrier posted a record group profit of EUR7.3bn.
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For the prior-year quarter, the carrier reported a EUR9mn loss.
