Wildfire
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Cedants faced a hard market in the mid-year renewals.
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The estimated containment date for the fire is 17 August, according to the US Forest Service.
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The blaze started on Friday and had spread to over 20,000 acres by Monday morning.
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The California utility said it is still pursuing additional limit.
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The utility spent 13% more to secure its insurance but cut back third-party cover to $870mn.
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The utility company emerged from Chapter 11 earlier this month following an $11bn settlement with insurers.
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The $50.25mn Randolph Re Series 2020-1 private cat bond will mature after one year.
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The Calgary hailstorm in mid-June could become the fourth-costliest nat cat event in Canadian history.
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The estimate marks a 19 percent deterioration on a February forecast.
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The interim CEO said this marks a new era for the utility firm.
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The deal settled at the low end of the revised spread guidance.
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The firm has narrowed its price guidance range, suggesting a higher multiple.
