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Covid-19 losses remained stable as the insurer said rate rises should endure. -
The February Deep Freeze has already pushed cedants to access reinsurance, adding fuel for rate rises later this year.
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The Bermuda (re)insurance firm will pay a final spread on the deal of 675 basis points (bps).
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It will more than replace a $250mn deal from 2018 which will mature this year.
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The reinsurance broker is looking to recover over £10mn and impose an injunction to ensure the return of confidential information.
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The state’s House Commerce Committee has approved the proposed legislation with three new amendments.
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Interest in parametric coverages has increased among insurance buyers as a response to coverage gaps exposed by unanticipated losses and tightening traditional market capacity.
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Some measures have been re-introduced to tackle legal fee multipliers, but the House version remains weaker than a bill approved by the Senate.
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Vantage aims to bring capital to bear on risks beyond property cat.
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The insurer racked up $915mn of qualifying cat losses after winter storms.
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The former Blue Capital portfolio manager is joining the wildfire-focused MGA to lead underwriting.
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Property losses make up 96% of claims.
