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Have reinsurers become so reliant on cheap retro that the task of writing their inwards portfolios is skewed by this support?
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The carrier’s $1.2bn gross loss from the two wildfires would trigger the carrier’s nationwide programme, which attaches above $500mn.
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There have been 452 confirmed cases in the latest Ebola outbreak.
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The figure includes a $15-$19bn loss estimate from the recent Camp and Woolsey fires.
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The insurer has called for the increase as a result of costs relating to the ongoing assignment of benefits crisis.
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The losses relate to Hurricane Michael and the 2018 California wildfires, the Sompo International subsidiary said.
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Daljitt Barn follows recent arrival Paul Jardine onto the advisory board of the start-up.
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January 2018 opened the year of the “great reload” for ILS managers.
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Insurers are seeking to claim roughly $10bn through subrogation lawsuits against Pacific Gas and Electric in relation to the 2017 wildfire losses.
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Trading Risk view: investor fatigue
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The exit comes ahead of Lloyd’s closure of SPA 6129.
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The estimate puts the modelling firm’s combined November wildfire loss estimates at up to $13bn.