Swiss Re
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It is launching the new capability through a new SEC-registered investment advisory firm. -
Insured nat cat losses amounted to $35bn globally in H1, while manmade events triggered an additional $3bn, according to Swiss Re Insititute.
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He led on structuring an innovative $1.15bn reinsurance stop-loss transaction in April.
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The carrier’s 6% rate increases over 2022 YTD are “subsumed” by larger loss expectations, including rising inflation.
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The reinsurer absorbed large nat-cat claims of $938mn in its H1 results.
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The recruit joins from Verisk.
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The forecast for real-term premium growth was depressed by anticipated claims inflation.
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The ILS manager’s half-year report showed significantly lower holdings with Everest Re, as much of its portfolio has gone private.
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Insurance resilience is still lower than prior to the Covid-19 shock, according to Swiss Re’s sigma research.
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The segment’s lustre has been dulled by losses and capital trapping.
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Investors, fund managers and service providers are adapting in the face of potential large losses from secondary perils.
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The deal upsized from an initial $150mn target despite one layer being withdrawn.
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