Insurers
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The carrier anticipates a substantial opportunity in cyber, and cyber and property ILS. -
November hailstorms and current storms and bushfires racked up claims.
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The event is the second billion-dollar SCS event to hit the country within a month.
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The carrier first issued Phoenix in 2021 with a size of $42mn.
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The company said the move was a key part of its risk-diversification strategy.
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The SPV will underwrite a “broad and highly diversified” portion of Amwins’ ~$6bn delegated authority premiums.
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The Carlyle and Hellman & Friedman vehicle will sell for 1.5x book value.
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The finance committee discussed shifting market dynamics as tort reform takes effect.
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PoleStar Re Ltd 2026-1 includes three sub-layers, which run for a three-year term.
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The storm outbreak follows similar events in the area in 2020 and 2023.
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An “extraordinary” proportion of storms reached Category 5 status this year.
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Demand for top layer coverage may also need to be supported by underlying market growth.
