Hurricane
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The carrier is asking the board to agree a premium outlay of $145mn for the 2020 hurricane season.
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ILW volumes could grow by more than 25 percent in 2020 as reinsurers seek alternatives to indemnity retro cover, sources said. -
Lloyd's expects property losses will make up 29 percent of the corporation's $3bn-$4bn share of claims, with overall industry losses at $107bn.
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Reinsurers push back on aggregate exposure from cascading covers as market gets more differentiated.
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The association is planning to issue $200mn of Alamo Re II notes later this year.
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The Floridian insurer said it has secured most of the reinsurance limit it requires ahead of the 2020 hurricane season.
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The modelling agency noted that an easing of the restrictions would reduce this percentage.
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Some insurers in the panhandle may not be able to handle reinsurance rate increases in the 1 June renewal, according to Bruce Lucas.
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Retro deals are seen as a particular concern over growing fears that trapped capital will again be an issue in 2021, as post-2017 innovations will be tested out.
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The cover was raised fairly evenly between the two remaining tranches.
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Alternative capital could provide higher levels of support in the coming months, CUO Edi Schmid said.
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The carrier has now exhausted its private reinsurance cover for 2017 storm Irma, with $1.3bn of public reinsurance cover remaining.
