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The bond will provide coverage for named storms in North Carolina. -
American Integrity is seeking expanded limit on more favourable terms.
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FY24 disclosures show shifting fortunes at reinsurer ILS platforms.
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Over 2024, four hurricanes added 13 points of cat-loss impact to the combined ratio.
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But cat bonds are experiencing negative secondary market price movement.
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Tower Hill secured $400mn of Winston Re limit in 2024.
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Bolding will focus on aligning Gallagher Securities with Gallagher Re.
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The carrier disclosed it will book $1.1bn in net losses from the California fires.
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The reinsurer has cut the cession rate to 33% from 40% last year.
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The group ceded 55% more premium to Nephila over the year at $1.3bn.
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The sponsor secured $100mn limit last year, paying a multiple of 8.3x.
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The carrier has been reducing its presence in the state since 2007.
