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Reinsurers are much better placed to absorb cat losses; insurers are carrying more risk.
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The cat bond market was very active in April as spreads began to widen.
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The Abu Dhabi investor is exploring options for fresh investments in (re)insurance and ILS.
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This compares to the 2023-2024 tower which covered losses up to $2.83bn.
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Additional capacity for upper-layer coverage is driving rate reductions, the broker says.
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The syndicate has appointed former Munich Re active underwriter Stuart Newcombe.
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The total economic cost from the catastrophe is estimated to be EUR9bn.
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CEO Wagstaff said the LMG must "compete with other markets".
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The second part of the PoleStar Re issuance takes the bond's total volume to $300mn.
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Traditional reinsurers such as Berkshire Hathaway and Arch pushed for more share, our annual study of Florida cessions shows.
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The carrier reported 1 April price increases of 3.2%.
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CFO Dacey said ILS investors were not extrapolating too much emphasis from strong returns in 2023.