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California recorded a 34.1 percent jump in excess and surplus premiums written compared with the previous year.
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J Powell Brown said engineered property and umbrella policies were proving harder to place.
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CEO Mike Sapnar said losses in the last two years have wiped out premiums.
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Excess rates continue to rise after several carriers early last year pulled back from the class.
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The scaling back comes amid more stringent conditions for sideways covers.
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Demotech’s actions expected to have only a minimal net impact on reinsurance demand.
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The broker said that Boeing claims of up to $1.5bn had prompted rates to surge.
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The cutbacks could have withdrawn close to $1.5bn of limit from the market.
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The MGA’s CEO predicts a halt to significant capacity withdrawals.
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Katy Bradica returns to the carrier after nine months as AIG’s chief actuary for North America, while Mary Latham joins from Beazley.
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Demotech has cautioned that up to 18 of the 46 Floridians it rates are at risk of downgrade.
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Pricing had previously slipped back after spiking following attacks on vessels last May.
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