ILS
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Rates have climbed 20%-35% since 1 January, and 40%-50% year on year, sources estimated. -
AP3 noted a ‘very interesting market with widening spreads’ as it made an ILS profit in 2021.
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CEO Luca Albertini has no immediate plans to step down but the firm said the promotion provided clarity on succession plans.
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Responsible investing in ILS requires “look-through data transparency”, the association says.
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Higher reinsurance premiums led to the upward adjustment of spreads.
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The allocation increased in dollar terms by just under 2% during the past year.
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The state-funded body works to enhance disaster preparedness and financing.
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With reinsurance availability scarce and costs rising, several carriers have called an interim halt to new homeowners’ business.
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The firm aims to build on the origination capability of Fleming Re and Accelerant.
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This is the second cat bond lite from Ocorian this year.
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Major ILS providers active in Florida including Nephila and Aeolus lifted assumed premiums.
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The increase in allocation by the railways scheme contrasts with steady or declining ILS holdings at other UK pension funds.
