Rates
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The midpoint of the updated spread range promises a multiple of 5.8x the expected loss.
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Trapped capital will become an issue in the coming months, CEO of Lancashire Capital Management Darren Redhead said. -
The carrier’s CFO said Florida pricing “could return to more rational levels” after years of underpricing.
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Uncertainty created by Covid-19 is driving demand, as insurers move to protect capital, Jean-Paul Conoscente said this week.
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Ahead of the renewal, Scor’s CEO had been pushing for double-digit rate increases in Japan.
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AM Best said Kelvin Re and Humboldt Re were targeting lower levels of underwriting risk in 2020.
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The fund generated more than double the return on the Swiss Re Cat Bond Index in Q4 19.
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The bonds could trigger this year if the pandemic drives mortality rates sufficiently high.
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The ILS market has used every reversal as a base for its future growth and this should happen again after Covid-19, the firm argued.
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Underwriters will likely keep pushing for higher rates, the rating agency said.
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Pre-Covid-19 mortality risks generally provided low single-digit returns, but significant repricing is underway.
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Allstate sets the spread for riskier second layer at 1,275 bps in the upper range of the initial guidance.
