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Wind and tornado in the US may already have led to losses in the hundreds of millions, according to Aon’s report. -
The head of the ILS international team at Gallagher Securities Europe expects ILS issuance in the region to grow following rises in the European Central Bank rate.
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While it is too early to determine the total financial loss, the US Geological Survey believes there is a 64% likelihood it will reach into the billions of US dollars.
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The broker’s 1st View report predicted that cat bond issuance should remain elevated until at least Q2 2024.
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Top-layer cat risk is attracting additional capacity but reinsurers remain firm on attachment points, the broker said.
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Bohm joins from Swiss Re Capital Markets, where he was head of structuring for the Americas.
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Mark Shumway joins from Howden Capital Markets, where he has been managing director since 2020.
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The leadership change follows Howden’s landmark acquisition of TigerRisk at the beginning of the year.
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Nichols joins from Aeolus Capital Management, where he’d served as a portfolio manager after previously spending nearly a decade at Guy Carpenter.
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The broker said it believes it has meritorious defenses and intends to vigorously fight the claims and seek recourse against third parties where appropriate.
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The firm said it had identified two specific transactions in which “collateral inconsistencies” were in question.
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Skilton will be chair of the team with Wheeler and Murray heading up the global re specialty unit.
