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Tower Hill secured $400mn of Winston Re limit in 2024. -
Bolding will focus on aligning Gallagher Securities with Gallagher Re.
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The carrier is likely to exceed its Q1 large-loss budget due to the California wildfires.
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The group ceded 55% more premium to Nephila over the year at $1.3bn.
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The sponsor secured $100mn limit last year, paying a multiple of 8.3x.
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The value of its investment in RenRe stood at $330.4mn as of 30 June 2024.
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Programs did not offer adequate risk-adjusted return.
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Shreeve’s role will encompass the Aon Captive & Insurance Managers’ ILS business.
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Capital inflows, notably into UCITS funds, and accumulated returns supported issuance of $17.2bn in 2024.
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The deal has upsized by around 64% compared with the initial target.
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Peril- and geography-specific deals are being well received by investors.
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A negative January return will be unprecedented for ILS industry.
