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The largest individual net loss at EUR230mn was caused by Hurricane Milton. -
The bond was trading at around 12.3c on the dollar in the secondary market last month.
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Both carriers have extensive reinsurance coverage.
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This year’s coverage will involve $2.94bn of new risk transfer.
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The UK listed investment manager has almost doubled its ILS allocation since April last year.
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Tom Fealey has assumed lead portfolio manager responsibilities.
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The executive worked in investment banking before joining the reinsurance industry.
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There are signs that Florida’s insurance industry is coming under increasing legislative scrutiny.
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This will be Brit’s first cat bond issuance since its 2020 deal through Sussex Capital.
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This came as the market’s underwriting profit dipped 10% for 2024.
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Some $4.8bn of reinsurance and cat bond limit will come up for renewal in 2025.
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Almost 300,000 people have been left without power from the storm.
