Hurricane
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Aon Benfield's catastrophe modelling unit Impact Forecasting has estimated total insured losses from Hurricane Matthew in the US at $5bn.
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Hiscox Re reported a 27 percent jump in gross written premium (GWP) for the first three quarters of this year to reach $649.2mn, with its ILS business being a key driver of growth, Hiscox announced.
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Georgia hit with $90mn+ Matthew loss; Q3 cats impact United Insurance; Top Layer forex loss hits RenRe; RenRe puts Matthew loss at $75mn; Insured Canterbury losses reach $13.6bn; Q3 income dips at Blue Capital
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The volume of livecat trading of industry loss warranties (ILWs) prompted by Hurricane Matthew may have reached up to $150mn-$200mn, according to sources contacted by Trading Risk.
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Despite initial fears that Hurricane Matthew could take a significant toll on the Florida (re)insurance market, a shift in the storm's track as it approached the US coastline in early October has limited forecast industry loss levels to the low single-digit billions.
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Third quarter returns from a group of ILS funds tracked by Trading Risk were stable year-on-year.
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Indicative reinsurer sidecar returns for 2016 have dropped into the single-digit range, highlighting the impact of catastrophe losses recorded earlier this year
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Four weeks on from Hurricane Matthew, cat bond spreads have slipped back in to a pattern of slight softening, according to data from RMS.
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The Georgia state insurance commissioner has pegged industry losses from Hurricane Matthew at above $90mn
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Florida-based insurer United Insurance Holdings posted an underwriting deficit in the third quarter as it recorded an increase in weather event losses that impacted its aggregate reinsurance arrangements
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An increase in commercial property claims led Florida insured losses from Hurricane Matthew up to $606mn by Friday 28 October, state regulators reported.
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A 30-mile westward shift in the path of Hurricane Matthew could have pushed up insurance losses from the storm ten-fold, Validus CEO Ed Noonan said on a quarterly earnings call