Rates
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Reduced exposures take the vertical limit on carrier’s cat programme down to A$6.5bn from A$7.2bn. -
An influx of underwriting capacity will likely limit the extent to which reinsurance rates rise, the agency said.
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RoLs could rise moderately in July with stronger gains in January, market participants said.
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The Florida Senator says tackling legal fees is a priority as demand for reform grows – but it will take time to implement.
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An active hurricane season could further amplify RoL increases, the investment bank warns.
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The insurer has raised its projected policy count by 20 percent.
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Florida Citizens received more than 500 new Irma claims each month up until April, which has slowed 30 percent from 2019.
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Lower deployable capacity and looming Covid risks added pressure, the firm said.
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The early renewal approach has been met with opposition from Lloyd’s reinsurers.
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The US wind deal by the Nephila fronting partner comes amid a flurry of activity in the cat bond market in recent weeks.
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The move bucks the trend of cedants hiking spreads on their cat bonds to attract sufficient investor capacity this renewal.
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To what extent does the business opportunity for new start-ups rely on BI losses that the industry is vigorously rebutting?
