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The executive explored ILS options as MD of hedge fund Horton Point post financial crisis.
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Allocators are waiting for 2024 to pan out, according to Hiscox CEO Aki Hussain.
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Severe thunderstorms, mainly in the US, accounted for 70% of insured losses globally.
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The moves mark a major step in realising “trillion dollar” casualty ILS potential, according to Ledger Investing CEO Samir Shah.
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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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