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As Trading Risk welcomed ILS market leaders to its Monte Carlo roundtable, there were already headwinds challenging the asset class even before the late September landfall of Hurricane Ian in Florida. -
The broker has pegged the global reinsurance supply demand imbalance at $20bn-$30bn.
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The upcoming special session, which will take place from December 12 to 16, will need to consider how to make Florida attractive to national insurers and reinsurers.
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A FLOIR arrangement will help Floridians secure homeowners cover during hurricane season.
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The flooding affected the states of New South Wales, Victoria and Tasmania.
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The special session comes as the Florida market braces itself for the effects of the anticipated reinsurance market hardening, potential regional insolvencies and the dearth of private capital.
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The pension investor re-directed capital to the Pillar Opportunity fund as of January 2022.
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The Bermuda Monetary Authority expects carriers on the island to take a 25% share of the total industry loss.
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The vehicle offers attachment points of $500mn and above for global property and downstream energy risks.
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Analysts said attachment points are now far behind the rate of inflation over the period.
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The state’s lawmakers will meet on December 12-16 to address the challenges facing its troubled property insurance market.
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The reissue of terms comes amid a tough European property cat market.
