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Minors has experience working on insurance and reinsurance matters
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The former Everest executive will look to roll out a range of new product lines at the heavyweight MGA.
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Citizens also secured $1.1bn of limit for its Everglades Re cat bond.
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This takes pre-tax cat losses for the calendar year to $1.23bn
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Spreads on all tranches of notes settled above the initially guided range.
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CFO Dacey said ILS investors were not extrapolating too much emphasis from strong returns in 2023.
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P&C re and CorSo reported improved net profits and combined ratios for the quarter.
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The capital will be allocated to a pure cat bond strategy, sources have confirmed.
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The ratings agency warns that wildfire is an increasingly risky and unpredictable peril.
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The management’s buyback acquisition brings an end to the two-year relationship.
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The carrier experienced a benign Q1 for catastrophic loss activity.
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Large losses came to EUR52mn with low retro recoveries.
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The former Neuberger Berman managing director confirmed the new role in a LinkedIn post.
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Both vehicles’ credit ratings outlook was also deemed as stable.
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Longleaf Pine Re priced, while spreads on Everglades Re deal moved higher.
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Spreads could continue widening throughout the rest of the year.
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It’s critical that insurers help clients to evolve and manage new and different risks stemming from AI, said Lucy Pilko, CEO of the Americas for AXA XL at RISKWORLD in San Diego.
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Data tools are helping businesses better understand and manage risk beyond just buying insurance, said John Merkovsky, global head of risk and analytics, WTW, at RISKWORLD in San Diego.
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Growth in the E&S market is expected to continue, as risks are continuing to become more complex and difficult to place in the admitted market, said Adrian Cox, CEO, of Beazley at RISKWORLD in San Diego.
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Businesses that have faced multiple years of rate increases are finding relief through innovative solutions including captives and telematics, said Mo Tooker, head of commercial lines, The Hartford, at RISKWORLD in San Diego.
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E&S has thrived around innovation and will continue to grow in 2024 and 2025, said Chris Sparro, CEO of North America, Sompo Commercial and P&C Insurance at RISKWORLD in San Diego.
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Storms struck the Great Plains, the Midwest and the Southeast.
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Cession ratios declined at three of the four publicly listed Floridians.
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The carrier also reported a $16mn satellite loss during the quarter.
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The company plans to reduce its quota share to 20% from 40%.
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The sponsor was targeting between $850mn-$1.1bn of coverage in the latest mega-bond to hit the ILS market.
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The capital will be deployed by Bermuda-based special purpose insurer Arachne.
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Insureds are finding relief from hard market cycles by turning to captives and self-insurance, said Katie McGrath, CEO North America Swiss Re Corporate Solutions at RISKWORLD in San Diego.
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Cyber attacks are increasing and becoming more complex, and large companies are facing more attacks, said Mario Vitale, president, Resilience at RISKWORLD in San Diego.
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A survey of 600 CFOs found cyber security, macroeconomic pressures, geopolitical risk, and talent acquisition and retention were key concerns among CFOs, said Joan Woodward, president, Travelers Institute.
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From transactional insurance to traditional property and casualty insurance, the active private equity space is seeking more complex and bespoke insurance, said Seth Gillston, private equity industry practice leader, Chubb at RISKWORLD in San Diego.
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Zurich North America is collaborating with other industry leaders to educate defense attorneys, said Keith Daly, chief claims officer, Zurich North America.
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Dan Vestergren has started investing in cat risk but the firm may look more broadly over time, sources said.
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Rates are still materially higher than pre-pandemic and lower layers are holding firmer.
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The early May forecast is driven by factors including the El Niño Southern Oscillation.
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He will report to Kelly Superczynski, Aon’s global head of capital advisory.
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Twia needed to purchase $3.35bn of reinsurance to satisfy its $6.5bn 1-in-100 PML.
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CFO Christoph Jurecka declined to give a loss estimate for the Baltimore Bridge loss.
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The index-based coverage will be for the benefit of Lloyd’s Syndicate 1910.
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The carrier reported a P&C re net result up 44% to EUR1.8bn.
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Gordon was set to join start-up brokerage Juniper Re last month.
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Combined AuM of UCITS funds stood at $11.3bn as of 26 April 2024.
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The ILS manager claims that 777 Partners “double-pledged” collateral.
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The pension fund’s ILS allocation as of the end of 2023 was CHF300.3mn ($356.8mn).
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Over Q1, the loss ratio improved by 34.6 points year on year to 43.7%.
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The Mexican government’s IBRD quake bond priced 4% ahead of guidance.
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The flat growth is a result of multiple forces influencing capital flows in both directions.
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The new Marlon bond offers multiples of 7.4x and 8.9x on the Class A and Class B notes respectively.
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