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CFP has a $900mn reinsurance attachment point and is still receiving claims daily. -
The changes follow a strategic review of the Pool Re scheme in 2022.
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The bond is likely replacing the 2021-1 Class F bond, which matured in December.
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The storm is likely to be one of the costliest weather events in Canadian history.
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The bond will provide coverage for named storms in North Carolina.
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FY24 disclosures show shifting fortunes at reinsurer ILS platforms.
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The state has seen 11 new entrants into the insurance market, reflecting renewed confidence.
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But cat bonds are experiencing negative secondary market price movement.
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The carrier disclosed it will book $1.1bn in net losses from the California fires.
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The group ceded 55% more premium to Nephila over the year at $1.3bn.
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The carrier has recognised two separate losses for the Palisades and Eaton fires.
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The value of its investment in RenRe stood at $330.4mn as of 30 June 2024.
