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The reinsurance recoverables from Lorenz investors were up by 56% to $921mn in the 2022 year.
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The ILS expert had joined as a portfolio manager in 2018 from Ontario Teachers’ Pension Plan.
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Reinsurer-owned ILS platforms were challenged to grow fee income in a tough year for nat cat losses and as cat market economics shifted.
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The reinsurer reported risk-adjusted prices up 2.3% based on conservative inflation and other assumptions.
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The appointments aim to provide clients with a product-agnostic view on accessing capital in a capacity-constrained market.
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Should reinsurers retain the option of playing in ILS, or take a ‘go hard or go home’ approach?
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The capital commitments to the vehicle have expired.
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A difficult fundraising environment had not eased during 2022.
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The Italian group previously halted writing catastrophe excess-of-loss business.
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Reports said at least 641 people have died and thousands are injured, with damage to 1,500 buildings.
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The (re)insurer has been reorienting itself away from writing property cat.
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The company's portion of net written premiums from Fidelis is expected to be around $550mn to $600mn for the full year.