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The bond will insure against named storms in eight US states. -
The carrier announced a capital repatriation plan of EUR3.5bn.
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The vehicle is 52% larger than it was at launch 3 years ago
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The vast majority of 2023 recoveries were from events in prior years.
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The notes were further marked down after a year-end Ian loss update.
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The outlook for M&A activity is brighter after 2023 returns.
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The state pool is seeking indemnity, annual aggregate cover.
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The bond provides three-year aggregate earthquake coverage in Japan.
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The parent also expects the ILS platform’s AuM to grow.
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The acquiring reinsurer will now run off the business.
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The cover will include the 50 US states, District of Columbia and Canada.
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The rise was helped by performance fees at DaVinci.
