Hurricane
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The Everest Re sidecar shrank by $6mn, as the carrier fell to an underwriting loss for the quarter.
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According to the Insurance Council of Texas, the outbreak on 20 October is the costliest tornado loss in the state’s history.
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Scor Global P&C CEO Jean-Paul Conoscente said the reinsurer’s main retro programme is expected to be placed within a fortnight. -
The carrier retained EUR92mn for Hurricane Dorian and EUR89mn for Typhoon Faxai.
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Over 70 percent of the losses come from Hurricane Dorian.
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The significant pricing difference between the reinsurance and retrocession markets does not make a lot of sense, TigerRisk president Rob Bredahl said.
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The firm is the first risk modeller to issue an official estimate after the typhoon made landfall in Japan on 12 October.
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The Japan Meteorological Agency has warned of heaving rain and flooding across several coastal prefectures, but the threat to Tokyo has diminished.
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The ratings agency has predicted a stronger 2019 performance as the group’s combined ratio improved to 99 percent.
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A stronger storm, Typhoon Bualoi, is forecast to pass to the east of the country.
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Tropical Storm Nestor made landfall at the St Vincent nature reserve off Florida's northern Gulf Coast on Saturday afternoon.
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Tropical storm and storm surge warnings are in effect for the region.
