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The cat bond market is on course for $56bn of notional outstanding by the end of this year. -
The outcome of Eaton Fire subrogation is an uncertainty for some vehicles.
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The peril has been historically difficult to model compared to others.
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Insurers with SCS exposure reaped fewer benefits but still improved over Q3 2024.
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The issuance will be the fourth deal offered by the Lloyd’s carrier.
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The shift in multiples is indicative of price softening in the cat bond the past two years.
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Japanese firm MS&AD acquired 80% of ILS manager Leadenhall Capital Partners in 2019 from another affiliate.
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The average weighted spread on the deals was 651bps, skewed upward by cyber and wildfire deals.
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Carriers are grappling with a rush of investor interest in longer-tail lines.
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The ratings agency first indicated it would consider a new methodology in March.
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The single Class A note is offering an initial spread range of 1,050-1,150 to investors.
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Hole will spearhead the launch of the underwriting and analytics platform.
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