Rates
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The reinsurer’s chair said cat pricing reductions are at a “miniscule level”. -
The model becomes the second in the state to get approval to affect ratemaking applications.
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The investment consultancy said yields increased in Q2 by less than could have been expected.
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The cost comes in at $530.6bn, roughly $20mn lower than budgeted.
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Florida’s top regulator says he’s eyeing eventual tweaks to the state’s cat fund, too.
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The rating allows IQUW to access $1bn in group capital.
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Compressed cat bond spreads could drive some rebalancing, as M&A remains a prospect.
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Twia filed for the rate hike in August after an actuarial analysis showed that rates were inadequate.
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The rate change will be implemented in November.
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The board of directors has voted for a 10% rate hike.
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Twia’s analysis showed existing rates were inadequate.
