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The 7.8 magnitude earthquake struck southern Turkey and northern Syria on 6 February, followed by a series of aftershocks. -
At this week's Bermuda Climate Summit, speakers heralded the Island's future as a centre of excellence for climate-related innovation and risk transfer.
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The broker estimated global reinsurance capital rose by $30bn over the first quarter, with a 7% uplift in alternative capital and a 5% recovery to traditional equity.
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The $49.4bn number remains below a critical ILW threshold.
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The global natural catastrophe protection gap stood at $368bn, with protection gaps being largest in emerging markets.
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There has never been a named storm to form in the eastern tropical Atlantic this early in the season.
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The broker said the risk from wildfire is also set to increase substantially.
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The National Hurricane Centre said the Lesser Antilles, Puerto Rico and the Virgin Islands must be vigilant.
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Compelling rates are on offer for markets willing to write wildfire risk in the sunshine state.
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The comment comes after major US carriers pulled back from new business in wildfire-prone California.
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The carrier said 70% of the claims stemmed from two wind and hail events.
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The carrier is increasing underlying rates to counter increased reinsurance costs and inflation.
