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Gokul Sudarsana has been with the company since 2020, having joined from Deloitte. -
The Swiss rail pension scheme has been cutting its ILS allocation since 2018.
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Suzanne Wells is also joining the company from Arch as COO.
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The bond will provide protection against China, India and Japan quake, and Japan typhoon.
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The subject business covers a portfolio of residential insurance.
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The announcement spurred a quick spike in stock market valuations.
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The sponsor is estimating a loss of ~$300mn in relation to one of last month’s US tornado events.
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Sutton National and Bamboo Ide8 secured $170mn of sidecar and cat bond protection.
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The bond will provide coverage against named storm or severe thunderstorm over three years.
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Torrey Pines Re is split among three tranches of notes.
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The issuance is split across three tranches with varying degrees of risk.
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The deal is split across four tranches, with the riskiest note Class D targeting $150mn.
