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The convergence of traditional reinsurance and ILS has seen reinsurers’ fee income rocket over the past three years.
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Retro rates were in some cases falling by mid-year, ahead of the recent losses.
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The portfolio has no active client relationships and was underwritten from 1969 onwards.
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Hannover Re CEO Jean-Jacques Henchoz told Trading Risk there was a “question mark” about whether demand would carry over into next year.
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Just a few months into 2021, the first natural-disaster headlines of the year are already occupying the minds of ILS insurance risk-takers. The snowstorms that brought freezing conditions to Texas will be a challenging event to evaluate for a number of reasons.
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Outside the US, two Indian cyclones are expected to have caused more than $4.5bn of economic losses.
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The former Peak Capital CEO has left the ILS platform he set up.
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Initially, negotiations are likely to be led by risk takers but there could be a case to model a future role for service providers.
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There is little sign of retro demand returning after buyers cut back in January.
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The start-up's new hire was a founding member of the leadership team at Fosun-owned Peak Re.
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The former Bermuda Brokers and JLT Re broker says ILW appetite is expected to remain strong after benefitting from pandemic trading activity.