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The Corporation’s chairman said that Names and other third-party capital are essential to maintaining the market’s unique nature.
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Carriers have announced significant exposure reductions in the state this year.
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SCS accounted for nearly two-thirds of global first-half catastrophe losses.
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The final report said the majority of the losses occurred on Kyushu Island with 74% of the total industry loss.
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The InsurTech claims five former staff, including the CEO and CFO, forged signatures and impersonated bank staff.
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The project which began last year in Zurich has now expanded to a group standing for $29bn of ILS assets under management globally.
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A total of $386mn has been issued in private cat bond deals this year.
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A Delaware judge has ruled in favour of Vesttoo’s automatic stay in the bankruptcy case.
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Ola Jacob's role at Descartes will focus on expanding the firm's parametric insurance offering in the London market to corporates exposed to climate risks across the globe.
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According to the National Hurricane Center, Lee made landfall at Long Island, Nova Scotia, on Saturday.
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With winds speeds around 80mph, Lee is now a Category 1 hurricane but is still expected to be ‘a large and dangerous storm' by the time it reaches New England and Canada.
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The Official Committee of Unsecured Creditors is turning the spotlight on Vesttoo’s current board and management.
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Total cat bond lite issuance this year has reached $370mn, according to Trading Risk’s tracker
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Gallagher Re has stated that the alternative capital market has increased by 4%.
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The additional funding brings Kin’s series D total to $142mn, and its overall equity funding total to $265mn.
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The private equity firm is targeting $1trn in assets under management for the combined segment.
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His role change — following that of LCM leader Darren Redhead in 2021 — raises questions over the firm’s future ILS strategy.
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Slow weakening is forecast during the next few days, but Lee is likely to remain a large and dangerous hurricane into the weekend, the update noted.
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Frontier’s employees, including director and co-founder Peter Brodsky and CEO Derek Winch, will remain in their current roles.
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European and Bermudian reinsurers are expected to be the most favorably affected by the current environment.
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Data from the broker indicated that around 70% of global losses were driven by SCS, with events in the US causing $35bn of insured losses over H1.
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The founding members include Munich Re, Gallagher Re, and BitSight.
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