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The ILS platform delivered stable revenues as Markel spent $102mn on its Catco buyout. -
The company cited its continued Q1 2022 underwriting losses and recent rating downgrade.
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With a hugely challenging reinsurance renewal ahead, Florida insurers are maximising participations in the state scheme.
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The company announced net retained catastrophe losses of $462mn.
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The firm took $175mn of qualifying losses as cat claims dropped notably from last year’s Uri-impacted quarter.
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The issuance is Vantage Risk’s second in the cat bond market.
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The nat cat loss aggregator said the Q1 event was the “largest flood loss on record” for the Australian insurance industry.
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The Florida-based insurer’s 2019 issuance is expected to lose up to $37mn of its $40mn principal after Hurricane Ida.
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The Senator is seeking to use a statute to activate a special session on property insurance.
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Swiss Re’s Sector Re includes aviation coverage, while some direct ILS exposures exist in marine retro where firms like ILS Capital and Lancashire play.
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The broker said there was still a “big unknown” around the potential global economic impact of the conflict.
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Its prediction for an above average season is in line with the early outlook from Colorado State University (CSU) researchers.
