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The target price and size are broadly flat with last year’s deal, although it is hoping to make some savings on the lower-risk layer. -
The Federal Emergency Management Agency trimmed its spend on the program by 12%.
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The broker and ratings agency AM Best said total deployed capital grew 2.7% in 2021.
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European loss experience drove the firm’s index back in line with 2014 levels.
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Some programs had to be restructured as rates hardened and capacity flowed away from cat risk in some cases.
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The fires are being fanned by winds of up to 115mph around the towns of Superior and Louisville.
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The cat bond was triggered by Hurricane Harvey and 9/11.
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The “squeezed middle” of the reinsurance sector is under pressure, but attritional risk aversion could drive ongoing changes.
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As the renewal is expected to spill over into 2022, the two-speed market will put pressure on retro-reliant carriers.
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The firm’s listed fund took a 2.5% gain for post-2017 class C shares.
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The Netherlands-based insurer is seeking EUR75mn from its first ILS transaction.
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Juan Andrade’s employment agreement has been extended through the end of 2023, with automatic annual extensions following this term.
