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The ILS analysts pegged expected returns for the year at 7.40%. -
The firm missed its earning per share target for the quarter.
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Private flood insurance accounted for about 40% of total flood insurance premium in California, higher than Florida’s 15%.
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Their view that “investors have never had it so good” speaks of a market in an upbeat mood as of January.
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Canadian windstorms and freezing conditions in the UK led to the losses.
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For the ILS market, perhaps more than any other, the outcome of this year’s high inflation is still to be determined. Unlike other industries that are suffering increased immediate costs, this sector’s performance – as always – is ultimately driven by events no one can foresee.
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Rate increases achieved at 1 January will help carriers keep pace with inflation, the agency said.
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Lane Financial said that the cat bond market is suggesting that the early markdowns were an overreaction.
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The low-risk group of funds outperformed the high-risk funds in the month and year.
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Natural disasters in North America destroyed assets worth around $150bn, of which roughly $90bn were insured.
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Brian Espie has been appointed as CUO having previously held the position of group head of North American reinsurance at Fidelis.
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Potential rotation of the investor base, along with continuing evolution in ESG and non-cat products, are set to be themes for the upcoming year.
