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The estimate implies a roughly $15bn homeowners’ industry loss from the hurricane. -
Andrade flagged expected 5% to 10% increases in the US and Europe.
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The figures imply first-layer reinsurance recoveries for Helene.
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The reinsurer is planning to drop its cession rate from 40% to 30%-35%.
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The company’s reinsurance premiums ceded fell by 58% to $149mn.
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The four-year deal is split across three tranches of notes.
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The final price fell 14% from the initial midpoint price offered by the sponsor.
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The partnership is aiming to bring training and development to the DIFC Authority.
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The NFIP’s traditional reinsurance coverage kicks in at $7bn of losses.
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The loss tally is considerably lower than estimates issued by model vendors.
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Insured losses for 9M 2024 have hit $102bn, according to a report.
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