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The Florida insurers that make heavy use of reinsurance from ILS managers include UPC Insurance, Universal and Federated National.
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Hurricane Irma is heading for the Florida peninsula almost a century after the 1926 Great Miami hurricane, which would have been the most damaging storm on record had it occurred today
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Nephila, Everest Re and RenaissanceRe were among the leading reinsurers of some of the top Florida insurers last year, according to data collated by Trading Risk
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High retentions on insurers' catastrophe treaties will shield reinsurers from the brunt of Hurricane Harvey claims, although there could be some cessions.
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Hurricane Harvey will impact reinsurer earnings but is unlikely to spur a reversal in softening pricing, analysts said.
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The latest acquisition by Heritage continues the trend for the larger Florida-based insurers to look to grow beyond their roots into "super-regional" carriers, a dynamic that is not necessarily favourable to their reinsurers.
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Underwriting agencies and fronting carriers continued to see demand from insurance sector investors looking for fee-driven businesses, rather than risk-taking entities, as two more M&A deals in this sector were revealed over the summer.
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The major continental carriers and dominant catastrophe writers are likely to be among the key reinsurers of the regional and specialist insurers exposed to Hurricane Harvey claims.
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The four leading modelling agencies - RMS, Air Worldwide, Karen Clark and CoreLogic - broadly agree wind-driven insured losses from Hurricane Harvey will fall in the low billions of dollars.
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Can savings on insurance in the future somehow be leveraged to invest in resilience today?
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Ascot Group has recruited Joe Calise from Guy Carpenter to run Vertical Underwriting Managers (VUM), the first US specialty MGA under its Ethos Specialty Insurance Services platform.
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Schroders has appointed Alan Cauberghs as head of private assets to oversee its activities in various sectors, including its ILS division Secquaero.
