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Gupta moves from Axis Capital where he served for four years in the New York team.
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As ILS players such as Vesttoo seek to grow beyond cat risk, Trading Risk looks at some of the questions surrounding how casualty ILS deals will operate and the amount of risk transfer undertaken to date.
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Kalachian moves from Allianz where he was a managing director.
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The hardening rate environment in Florida provided a mid-year opportunity for some, but overall there was little growth.
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The ratings agency affirmed its rating on Resolute Global Partners’ Bermuda platform, noting its exposure to aviation war risks.
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The regulator has proposed several changes to enhance the regime for insurance special purpose vehicles which, in turn, could boost the UK ILS market.
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The vehicle was supported by a group of institutional investors.
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They will join the team led by Stefano Sola to bolster Vesttoo’s alternative investment products.
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Beyond pandemic exclusions, there has been a mixed response to changing ILS terms after the trapping issues.
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With reinsurance availability scarce and costs rising, several carriers have called an interim halt to new homeowners’ business.
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Major ILS providers active in Florida including Nephila and Aeolus lifted assumed premiums.
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The issuance will be fronted by Hannover Re with an initial attachment level of $2.2bn.