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The bond will provide protection for storms, quakes and fires in seven US states. -
The bond protects against losses in the US, Canada, Europe and Australia.
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The company also has $100mn for US hurricane events.
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Property cat XoL rates were off by around 10% on average on a blended risk-adjusted basis.
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The index provider revised up its return for March by 0.39 percentage points to 1.21%.
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The Swiss pension fund has not disclosed an ILS allocation before.
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The carrier previously raised a Finca Re cat bond in 2022.
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The company is a wholly owned subsidiary of AmTrust Financial.
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The carrier previously redeemed from a Herbie Re cat bond for California wildfire claims.
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The pension plan has been allocating to ILS since 2005.
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The deals covered Euro wind and Italy quake, Florida hurricane and a retro bond.
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The ILS market has won market share at the top of programmes as buying expands.
