(Re)insurers
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The state carrier is moving to redeem its 2022 Everglades issuance a year early.
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The carrier is seeking named storm coverage in the state of Texas.
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Sources are expecting multi-billion new limit to be placed.
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The cat bond will initially cover named storms in Florida and South Carolina.
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The cat bond will cover earthquake and named storm events.
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Twia’s actuarial and underwriting committee made the recommendation last week.
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The Australian insurer will have $1.7bn of core XOL cover this year.
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The increase in limit reflects the carrier’s growing exposure.
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The Bermudian said its third-party vehicles were “sufficiently capitalised”.
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The review followed a methodology change.
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Improving the speed and efficiency of settlements is required to help the market grow.
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The executive joins the company as it looks to bolster its reinsurance capabilities.
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