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The carrier joins peers such as Hamilton Re in raising fresh funds to attack the tight retro market. -
The listing without prior PE cornerstone backing is an effective first for the reinsurance sector.
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The Day 1 launch via a listing without PE cornerstone investors is an effective first for the (re)insurance sector.
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The Howden analytics arm finds that Covid-19 contributed $26bn of 2020’s $95bnn insured losses at the nine-month stage.
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The subsidiary was formed in the summer and is deploying capital from the sale of Maison.
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The carrier seeks to address potential BI liabilities following a court ruling.
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A fresh BI ruling in Australia this week highlighted the industry's reason for caution over Covid exposure as legal actions continue.
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The ratings agency has given the entity a financial strength assessment of A-.
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GIC said it co-led the consortium of existing and new investors to commit $1bn to the carrier.
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Additional fundraise takes total committed capital to $2.7bn.
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Lavant is seeking at least $600m ahead of a proposed launch in January.
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The start-up, which is targeting a Day 1 IPO, will target a 5%-6% dividend yield and a mid-teen ROE.
