AJ Gallagher
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The broker has analysed the differences in wildfire risk between Northern and Southern California. -
Scott Cobon resigned from Artex in September last year after 10 years of service.
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Investor appetite for bonds is exerting pressure on traditional retro providers, according to Gallagher Re.
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New issuance will be supported by new sponsors as well as over $13bn in maturities.
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There have been few retro exits despite softening amid cat bond competition.
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Non-loss impacted major property program rates were down by up to 20% at the renewal period.
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A US landfall is not expected, but the storm could hit the Bahamas by Friday.
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Dedicated reinsurance capital is on track to increase by 8% in 2025, the broker said.
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The broker has nearly 20 years of experience in the reinsurance and retro markets.
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The US accounted for 92% of all global insured losses for the period.
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SCS can no longer be considered a "secondary" peril for the US insurance market, Steve Bowen said.
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Sources believe the market will grow gradually over years after its initial cluster of dealmaking.
