Weather
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The reinsurer’s non-life combined ratio deteriorated to 97.7 percent despite an improvement in P&C results.
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Mitsui Sumitomo has put its Typhoon Jebi losses up to 258bn yen ($2.4bn), compared with an initial estimate of 140bn yen. -
This will have implications for Allstate, State Farm, USAA and other insurers which have sued the utility over Camp Fire losses.
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The insurer’s net combined ratio worsened to 110.6 percent for Q1.
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Almost 250 tornadoes hit in the US last month, with one outbreak set to cost insurers $700mn, Aon has reported.
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The transaction’s target price is up on a similar tranche of American Integrity’s cat bond last year.
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Increased retro costs mean RenaissanceRe will likely be retaining more risk.
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WorldCover, a climate insurance provider to smallholder farmers, has raised $6mn from a fundraising round led by MS&AD ventures.
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The insurer has increased its ultimate net loss for the 2017 storm by 7 percent.
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The insurer’s cat losses for the first quarter totalled EUR195mn.
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The ILS fund manager said the rationale behind model updates will be followed closely.
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The reinsurer’s Corporate Solutions division posted a $55mn loss for the period.
