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The Texas insurer of last resort previously had to have funding for a 1-in-100 year storm. -
Around 95% of the Hiscox Re & ILS portfolio is rated rate “adequate” or better.
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The carrier posted its H1 results earlier today, beating analyst consensus.
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The unit said capital in the ILS market remains more than adequate to meet rising demand.
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California wildfires account for $40bn of the insured loss tally in H1.
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The company also purchased $15mn of SCS parametric coverage.
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In Q2 last year, Everest ceded $26mn in losses to Mt Logan.
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The new team will be headed by Brown & Brown’s Ed Byrns.
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The reinsurance CoR fell 2.3 points to 79.5% while the primary CoR rose 4.7 points to 98.7%.
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Investors are drawing lessons from life deals to find new routes into insurance markets.
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The ILS Advisers Fund Index reported a profit of 1.11% in June.
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The model becomes the second in the state to get approval to affect ratemaking applications.
