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SCS insured losses accounted for 48% of all global losses last year. -
The agency cited falling property rates and US casualty challenges.
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The investor is targeting a new insurance allocation.
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Integral ILS is the latest ILS manager to seek retro protection by issuing a cat bond.
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Lower premium rates, wider coverage terms and a fall in bank rates will cap returns this year.
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The ICA has escalated its ‘significant event’ declaration to ‘insurance catastrophe’.
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The broker has analysed the differences in wildfire risk between Northern and Southern California.
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The sponsor is the second dedicated ILS manager to issue a cat bond after One William Street.
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The LA wildfires resulted in the largest insured loss of the year, at $40bn.
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The two bonds offered are both replacing expiring deals.
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Tiziani has previously worked in the asset management and private banking sectors.
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The investment will be the first allocation to ILS for the public sector pensions investor Funds SA.
