Weather
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Leveraging data can make risk more transparent for investors, said Ledger’s CEO Samir Shah.
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The increase represents a 4 percent deterioration to its 2017 annual loss, pushing it out to 61 percent.
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The insurer recouped A$7mn ($5.0mn) from reinsurers under its aggregate protections.
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Overall cat bond losses are in line with modelled expectations but more claims have come from non-core perils than expected, Lane Financial analysts suggested.
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The insurance premium on the EUR45mn ($51.5mn) Italian multi-peril Atmos notes settled 12.5 percent above initial median targets.
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Perils said the Sydney event was likely to rank as one of the largest Australian hailstorms on record.
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Hurricane Michael generated a larger loss for the carrier than 2017’s Irma. -
The Luxembourg entity will provide trading continuity for its ILS and weather derivatives business after Brexit.
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The Bermuda-based ILS manager withdrew from the insurer’s reinsurance treaty following losses in 2018.
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The utility still faces investigation for this year’s Camp Fire.
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The broker said new capital inflows to the sector also reduced from the levels seen last year.
