Insurers
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Clear Blue originally filed the suit in late 2023, alleging reckless conduct and misrepresentation. -
Newsom has yet to sign a pending bill to create a public cat model.
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Winds have strengthened to 80 mph, and the hurricane is expected to intensify further over the next 48 hours.
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The hire comes as Guy Carpenter fills the void created by the Willis Re raid earlier this year.
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Deals would need to be sized at $50mn plus for transfer to capital markets.
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The measures also seek to encourage greater wildfire mitigation efforts.
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Vantage Group Holdings received a BBB- long-term issuer credit rating.
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The tech firm is building a joint stock company with insurers and investors.
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Ryan Alternative Capital Re was launched in partnership with Axis Capital.
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Syndicate 1440 was approved to assume business incepting January 2026.
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The data modeling firm said losses previously averaged $132bn annually.
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The violations included not using propertly appointed adjusters and failing to pay claims.
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After the LA wildfires in Q1, carriers got some relief in Q2 ahead of wind season.
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The ILS play will make the business more capital efficient under new owner Sixth Street.
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The group claims the White House is undermining disaster preparedness.
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Property MGA Arden Insurance Services specialises in multi-family habitations.
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The company plans to launch in New York and New Jersey next year.
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The estimate covers property and vehicle claims.
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The carrier posted its H1 results earlier today, beating analyst consensus.
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The company also purchased $15mn of SCS parametric coverage.
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The reinsurance CoR fell 2.3 points to 79.5% while the primary CoR rose 4.7 points to 98.7%.
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Scor's CEO said the P&C market had experienced a “competitive” first half.
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Nationwide will delegate management of the policies to Ryan Specialty.
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Mercury’s recovery from the guaranteed percentage of losses is $47mn.
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Insured losses produced the second highest first-half tally since records began in 1980.
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The figure updates an April estimate of EUR696mn.
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At least 14 new companies have opened up shop in the state in recent years.
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The losses were below May’s $777mn, but almost 3x higher than for June 2024.
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The suit claims billions of dollars are being illegally withheld.
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The US accounted for 92% of all global insured losses for the period.
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State legislation has led to major strides in rate adequacy.
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Category 4 and 5 storms could become more common and hit further north.
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Despite predicting fewer hurricanes, the numbers are still above average.
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The Australian carrier’s nat cat losses are A$200mn lower than its annual allowance.
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The measure could have landed insurers with extra tax on US business.
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The cost comes in at $530.6bn, roughly $20mn lower than budgeted.
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Allstate attributed the bulk of its losses to three major wind and hail events.
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In 2024, MGA GWP reached approximately $20bn in Europe.
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The bond will provide protection for storms, quakes and fires in seven US states.
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The $2.59bn renewal is up 45% from last year.
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Up to nine million acres of US land are considered likely to burn.
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Last week, TSR updated its forecast and is now predicting above-average storm activity.
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The total cost excluding a 15% quota share was $201.85mn, with rates down 12.2% from last year.
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The company also has $100mn for US hurricane events.
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The Floridian also secured $352mn of multi-year coverage extending to 2027.
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The deal leaves premier surety as Travelers' sole Canadian portfolio.
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Florida’s top regulator says he’s eyeing eventual tweaks to the state’s cat fund, too.
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The firm is pressing ahead with IPO plans just ahead of the start of the Atlantic storm season.
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Almost 50,000 people have been forced to evacuate.
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TSR previously predicted activity slightly below the 1995-2024 average.
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The agency forecasts up to five major hurricanes and 19 named storms.
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The cat bond limit total is an uplift of around 60% on the carrier’s 2024 bonds.
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Fox highlighted the increasing role of alternative capital and creative financial vehicles.
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The group reported an 89.7% combined ratio for the quarter.
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As with 2024, pricing pressure has been most acute on top layers.
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Tornadoes have killed at least 32 people in three states.
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The targeted uplift comes after Mercury ceded nearly $1.3bn of wildfire losses to reinsurers in Q1.
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The revision is significantly lower than the $4.5bn October estimate.
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Tropical Cyclone Alfred and Queensland flooding brought thousands of claims.
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With plenty of reinsurance capacity, CEO Patel said it’s been a “boring year” for treaty negotiations.
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California homeowners are also expected to move admitted business to E&S.
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The insurer has not decided whether to sell its Eaton subrogation rights.
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AIG, HDI Global and others have settled, while Chubb’s fight continues.
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Commutations need to be optimal for the sponsor and the investor to avoid sponsors taking back chunky risks.
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The state insurer of last resort is set to purchase $2.89bn of reinsurance this year.
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The initial offering will include 6,875,000 shares of common stock.
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Renewal rates were favorable compared to what could have happened after several hurricanes.
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The carrier increased its cession by around 13% year over year.
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The carrier surpassed the retention on its annual aggregate reinsurance cover for the year to March 31.
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The Floridian company applied to be traded on the NYSE.
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Suzanne Wells is also joining the company from Arch as COO.
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The announcement spurred a quick spike in stock market valuations.
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Markets have taken a battering across the globe following the “Liberation Day” announcement.
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Colorado State University is predicting 17 named storms, nine hurricanes and four major hurricanes.
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Insurance share prices were more resilient than the US stock market.
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The reinsurance broker said total reinsurance market capacity was up 5.3% year over year.
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Since leaving Hiscox Krefta has founded a consultancy.
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The carrier has received 12,300 claims as of 28 March.
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The insurer has lined up Piper Sandler and KBW to run the process.
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Cat losses last month were lighter than historical trends, but all eyes are on Q1 figures.
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Commissioner Lara also proposed a $500mn cash infusion from parent State Farm.
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Both carriers have extensive reinsurance coverage.
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The Class A section of the bond has doubled in size, at lower pricing.
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Several Florida start-ups are poised to begin writing business this year.
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The Class B segment of the bond has priced below initial guidance.
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The bond provides coverage for storms, earthquakes and severe weather events.
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The carrier is “extremely well capitalised” to achieve its strategic ambitions.
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The bond will provide coverage for named storms in North Carolina.
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The carrier has recognised two separate losses for the Palisades and Eaton fires.
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Compared with its initial figure, CatIQ’s latest estimate has increased by 40%.
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The total includes fire and smoke damage plus living expenses for evacuees.
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The carrier’s Milton loss came in below expectations, but its fire claims will be “material” in Q1.
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Losses from the larger fire will amount to $20bn-$25bn, the modeller said.
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The estimate has reduced slightly since the modeler’s last update in October.
