Stocks
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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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The Aon Reinsurance Aggregate (ARA) stock index fell by 46 percent in the five weeks to 23 March due to Covid-19.
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Sources said conditions in the cat bond market had “pretty much gone back to normal”. -
Founding partner of Twelve Capital Sandro Kriesch said he does not expect many ILS funds to “be on the hook” for Covid BI losses.
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The major buyback was completed before the Covid-19 pandemic sparked a market crisis.
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Greenberg defended the insurance sector and said it would be “unconstitutional” to retroactively rewrite contracts.
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The scheduled capital release next month stems largely from 2019 side pockets, the company said.
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UK clients have formed an action group and are seeking a legal opinion on their BI claims.
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The reinsurance plan will reduce its North American peak peril retention.
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CEO George Manning Rountree says the firm's Elementum Advisors business is in good shape.
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Company shareholders voted to wind down the beleaguered fund last March, and the run-off is expected to take a few years.
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The platform transacted the most cat bond lite deals of 2019, with $300mn raised from such listings.
