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The addition of Japan increases the number of territories covered by Perils to 21. -
The agency said casualty risk was attractive to investors for its low-to-moderate correlation.
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The parametric product will pay out based on a hurricane’s proximity to the insured.
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The pricing on the storm and quake cover has shifted down from initial guidance, bucking early Q2 trends.
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Kelvin Re, one of two balance sheets previously affiliated with Credit Suisse ILS, has been in run-off since December 2020.
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CEO Kathleen Reardon said recent legislative changes are a ‘band aid’ but will help to calm the stressed Florida market.
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QBE Re CUO Peter Wilkins will step into the role until a suitable replacement is found, the company said.
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The event is the sixth-largest insured loss event in Canadian history.
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The decade from 2010 ran the full gamut of catastrophe loss experience, reminding us that there is no such thing as a "new normal" in the world of ILS.
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This is UPC’s latest attempt to downsize after offloading part of its personal lines business to HCI.
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It is the reinsurance company’s first entry to the cat bond market.
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Rates have climbed 20%-35% since 1 January, and 40%-50% year on year, sources estimated.
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