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The carrier also has a $500mn excess $2.4bn aggregate protection. -
The platform will match partner capital to provide capacity for reinsurance placements.
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PFZW’s insurance allocation stood at $8.7bn as of year-end.
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He joins from Pillar Capital and will be based in Bermuda and New York.
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Fermat stayed in the top spot surpassing $10.0bn for the first time.
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Secondary market pricing indicated anticipated California wildfire losses.
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The reinsurer has issued updated pricing for the instrument.
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The industry loss number has increased threefold from an initial $5bn pick.
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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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Severe convective storms accounted for 41% of last year’s insured loss load.
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Two 2021 worldwide aggregate ILW notes are also among the markdowns.
