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The moves mark a major step in realising “trillion dollar” casualty ILS potential, according to Ledger Investing CEO Samir Shah. -
It consisted of three major earthquakes within a nine-hour period on 6 February 2023.
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ILS investors’ stress over Gibson Re is unlikely to inhibit legacy ILS’s future.
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Geico more than tripled underwriting profits.
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Total pre-tax cat losses for the quarter grew sixfold YoY to $135mn.
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The slowdown was based on a conviction of “higher likelihood of frequency events” this year.
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The firm also posted a 56% increase in fee income.
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The rise is equal to 5%-10% of catastrophe capacity purchased, including cat bonds, depending on region.
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The property market remains “one of the most favorable ... I've seen in my career,” the executive said.
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The reinsurer raised $84.5mn of third-party capital in the quarter.
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Changes made will make it easier to compare the funds, said Albourne’s Michael Hamer.
