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The ratings agency has given the carriers until next week to respond. -
Kalachian moves from Allianz where he was a managing director.
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The firm assigned a neutral outlook overall to ILS but is strongly positive on many non-life risks as it seeks diversifying strategies that can withstand inflation.
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Its half-year gain was down slightly from 1.43% in the prior year period.
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Sources say investor capacity may be returning to the market, but hurricane season could “make or break” the market.
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Australia and Florida buyers faced capacity problems as inflation drives up pricing.
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The 1 June renewal posed challenges for Florida insurers seeking reinsurance cover.
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It is the reinsurance company’s first entry to the cat bond market.
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Rates have climbed 20%-35% since 1 January, and 40%-50% year on year, sources estimated.
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Some cedants remain far behind in a stressed renewal, but others are on the path to completion in a reshaped Florida market.
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Aeolus must return the held collateral to Credit Suisse.
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The fund’s prospectus showed 2017 was its only negative year since 2014.
