Primary insurance
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Experts agreed that investment in understanding wildfire risk had come a long way in recent years.
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Primary market, reinsurance and ILS will all need to prove themselves before capital flows back in, said LCM CEO Paul Gregory.
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UPC policyholders could be force-placed by their mortgage lender.
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Carriers have received more than 8,000 flood claims since 1 July.
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The ILS fund said the funding would support the company’s growth prospects.
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The firm will begin writing middle-market commercial business this month.
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Outside the US, two Indian cyclones are expected to have caused more than $4.5bn of economic losses.
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The executive said reforms will help insurers, but more challenges remain to be tackled, as local executives remain divided on the potential impact of the legislation.
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The Floridian has also incurred $23mn of net catastrophe losses in Q4 before tax.
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Storm surge losses are expected to remain under $500mn.
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The deal will generate proceeds of more than $1.5bn for the Karfunkel family and including a dividend is pitched at 69 percent more than Tuesday's close.
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Some reductions in demand might follow as policies change hands, but this will not be a key influence on renewal dynamics.
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The research found that commercial insurance prices rose by just over 2 percent in aggregate in Q1.
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The company’s investors were now more diversified, CEO Albert Benchimol said in an earnings call.
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The insurer has dropped Maiden Re for the quota share arrangement on the $2.9bn book.
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Orchid CEO Brad Emmons will continue in his role after the sale.
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There will be some small increases on loss-affected areas but next year is expected to be stable, USI said in its 2019 Commercial Property & Casualty Market Outlook.
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The city of Osaka sustained most of the losses.
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The National Hurricane Center predicted catastrophic freshwater flooding as the eye of the hurricane touched down at Wrightsville Beach.
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Human behaviour now has a smaller role in determining pricing, according to the broker's president and global head of casualty.
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Richard Slater and Adam Champion have been hired at Brit’s new collateralised reinsurance vehicle Sussex Capital.
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The ecclesiastical carrier works with unnamed global reinsurers to provide coverage which it claims as a first for Italy.
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The London-listed carrier is said to be looking for both ILS and Names money to support the growth of its facilities-only special-purpose arrangement for 2019.
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London-based insurer Barbican has announced that it will launch a property direct and facultative (D&F) underwriting platform in Bermuda, writing risk on behalf of the company's Lloyd's syndicate 1955.
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