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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. -
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.
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The reinsurer said cyclone losses were above average with global insured losses at $25bn.
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The total of Hurricane Michael claims filed with Floridian insurers through to 30 November has reached $4.01bn, the Florida Office of Insurance Regulation said.
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The insurer expects $1.8bn of losses from the Camp Fire and $475mn from the smaller Woolsey Fire.
