Energy
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Cat bond broking growth contributed to 6% organic growth in reinsurance. -
The targeted uplift comes after Mercury ceded nearly $1.3bn of wildfire losses to reinsurers in Q1.
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The panelists discussed the ILS reset and the path to maintaining discipline in this sector.
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The peril can no longer be considered secondary, according to Gallagher Re.
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The business will service clients in the agriculture, renewable energy and construction industries.
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At this week's Bermuda Climate Summit, speakers heralded the Island's future as a centre of excellence for climate-related innovation and risk transfer.
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Guy Carpenter was the sole placing broker sourcing capacity for the tie-up.
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Lloyd’s has launched a fund on its new investment platform to enable the market to invest globally in assets themed around climate adaptation, mitigation and social inclusion.
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The price for risk carrying is no longer insufficient, Munich Re's CEO said in a Monte Carlo briefing.
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The carrier said geopolitical factors had given “new urgency” to the green transition.
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ABIR reported that Bermudians posted a total loss ratio of 69.9% and a combined ratio of 100.1% last year.
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The hydrogen industry is a key pillar of the energy transition, but securing insurance coverage is challenging.
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Responsible investing in ILS requires “look-through data transparency”, the association says.
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The firm’s goal is to raise its own capital and partner with others.
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The new firm says ESG criteria will be embedded into the products.
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The 2020s is the key decade for action to limit global warming and its impacts.
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The executive said there was a strong case for meaningful rate increases in reinsurance.
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The reinsurer aims to become carbon-neutral in operations by 2030, whilst its reinsurance target date is 2050.
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The city’s pension fund recorded a 3% return from its ILS portfolio in 2020.
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In its renewal season update, the carrier said Bernd, Ida, Uri and the pandemic would force up pricing across lines and regions.
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The move comes ahead of the COP26 climate summit in Glasgow in November.
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The detailed document lays out plans for reform to capital provision, claims and services administration and distributing risk.
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The weather protection market currently resembles the early ILS market, according to the Nephila managing principal.
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An Ares fund has used Nephila-backed proxy revenue swap contracts to help finance three wind farms in Texas.
