Wildfire
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The incoming SVP joins from BMS Re, where she led the catastrophe analytics team for more than 10 years. -
The company’s new models will be generally available in June for major perils including US flood, US wildfire and Japan typhoons.
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The 5%-7% uplift came in ahead of a smaller November gain connected to 2019 catastrophes.
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December gains of 0.05% marked the third consecutive positive monthly return.
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The company will use the funding to invest in new software hires and expansion in Hong Kong and Madrid.
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Pacific Gas and Electric Company told investors in November that it expects to recover $569mn from its insurers on a potential $1.15bn liability relating to the Dixie Fire in California.
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The blaze destroyed 1,000 structures and damaged a further 100 in the state’s most destructive wildfire incident.
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A heavy snowfall helped to bring the major conflagration under control.
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The fires are being fanned by winds of up to 115mph around the towns of Superior and Louisville.
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The carrier's first cat bond featured a new subrogation extension mechanism.
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Pricing was generally stable but investors are showing more aversion to specific climate-exposed perils, sources noted.
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It had previously sought $100mn.
