Casualty/GL
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Praedicat CEO Bob Reville outlined the firm’s approach to "casualty cat" as liability risk modeling continues to mature. -
The facility will provide reinsurance coverage over three underwriting years.
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The number of sponsors has risen from 46 about a year ago to 66 over the last 12 months.
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The transaction complements its previous acquisition of RMS in 2021.
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Sidecar vehicles are being tailored to match investors’ objectives.
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The executive explored ILS options as MD of hedge fund Horton Point post financial crisis.
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The moves mark a major step in realising “trillion dollar” casualty ILS potential, according to Ledger Investing CEO Samir Shah.
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The property market remains “one of the most favorable ... I've seen in my career,” the executive said.
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The broker’s report also hailed the best risk-adjusted margins for ILS investors in a decade.
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The broker said global cat rates rose 3% in the 1 January reinsurance renewals.
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The reinsurer said hardening of property reinsurance conditions must continue.
