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The company plans to reduce its quota share to 20% from 40%. -
Rates are still materially higher than pre-pandemic and lower layers are holding firmer.
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The carrier reported a P&C re net result up 44% to EUR1.8bn.
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The firm expects pricing and terms and conditions to hold.
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The firm’s ILS unit expanded fee income by 10% over Q1 2023.
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First event tower for the Northeast exhausts at $1.1bn, at $1.3bn for Southeast and $750mn in Hawaii.
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Overall economic losses hit $45bn in the first quarter of 2024.
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Various trends may work together to hold the cat markets up for longer than some had feared.
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State interference is likely to be required if an attack is large enough to trigger bonds now on the market, experts say.
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Its Class 13 and 14 notes priced roughly at the midpoint of expectations.
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Panellists at the Insurance Insider ILS conference say forecasts can push capital to “the edges” of the market.
