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The update to the October figure implies the ultimate number will comfortably breach the $50bn mark. -
The updated loss and allocated loss adjustment expenses in the property segment from the hurricane is now $1bn.
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FGF is a reinsurance and asset management holding company focused on collateralised and loss capped reinsurance and merchant banking.
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TigerRisk Capital Markets & Advisory acted as exclusive structuring and placement agent for the reinsurance sidecar.
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The incoming president for insurance also highlighted the role Nephila could play in the transition to net zero.
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The former analyst at Aeolus joins the growing number of ILS experts to join the firm.
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The outgoing CEO will step down in May and spend six months as a strategic adviser to the company.
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Senate Bill 2A addresses key concerns in the Florida property market, including one-way attorney fees and assignment of benefits, the ratings agency said.
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Tristan Abend has been with the Axa XL Reinsurance team for 10 years.
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The move comes amid a general cutback from reinsurers’ in their cat risk appetite.
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The update is a slight increase to November’s 114bn yen estimate.
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The announcement comes on the helm of both houses of the Florida legislature passing the proposed overhaul of the state's property insurance market.
