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The former Credit Suisse ILS head Niklaus Hilti said working on life buyout hedges could rejuvenate the life ILS market. -
The vehicle has $2.55bn in capital committed by institutional investors.
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There are many unknown factors including insurance gaps, high-value property and damage to critical infrastructure.
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The estimate has reduced slightly since the modeler’s last update in October.
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The anticipated portion ceded to reinsurance may reach the mid-to-high single-digit billions, it added.
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This will be the most expensive fire in the state’s history, it said.
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Kusche and Rosenberg will co-lead the firm’s global ILS business.
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Sources say the Fair Plan is under-reserved, leading to the possibility of member assessment.
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CEO Cerio highlighted changes that allowed the insurer of last resort to combine commercial, coastal and personal lines.
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As fires still rage, many fear early $10bn-$20bn estimates were too optimistic.
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Amin Touahri spent five years in a variety of roles at Munich Re.
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The Palisades fire is estimated at $9bn-$12bn, while Eaton is $6bn-$8bn.
