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Twia’s actuarial and underwriting committee made the recommendation last week. -
The expected spend is around 33% higher than Twia had budgeted.
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The carrier is designing an investable portfolio of long-tail risk.
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Sponsors still secured terms that were favourable relative to traditional cover.
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Pricing for both falls at the lower end of the recently updated estimates.
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Pricing settled toward the lower end of guidance.
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Monthly cat losses were driven by two major events.
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The bond is trading at 70c-75c in the dollar in the secondary market.
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Its property cat aggregate cover renewed with improved coverage.
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The ILS allocator has invested in the asset class over 17 years.
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The carrier is targeting annual aggregate cover with a PCS index trigger.
