Fidelis
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She was previously an investor relations senior manager at Swiss Re. -
Inflationary pressure and climate change meant the market effectively gave ground to cedants despite nominal price rises.
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CEO Richard Brindle calls for pricing corrections to reflect climate change and exposure growth.
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The Fidelis CEO said stochastic modelling was “pretty much meaningless” and failed to consider the impact of climate change.
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Former group portfolio manager Phillip Murfet will become CRO
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Sources told Trading Risk that a different kind of investor was interested in ILWs compared with retro cat bonds.
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New and growing carriers helped to fill out treaties as Sompo stepped back from a market that came in flatter than expected for remote risk.
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The insurer has been able to lower its projected premium by 3%.
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The ILW deal will offer a spread of 1775-1850 basis points (bps), including a wide range of perils and notably high coupon for the ILS market.
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Its quota share partnerships provide the equivalent of $4.1bn of capital support based on 1-in-250-year loss scenarios.
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Hannover Re and Fidelis provided significant capacity on the Munich Re-led programme.
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The reinsurer was chasing a high 15% net return target but said lower demand and capital trapping made this unachievable
