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The UK insurer said it hoped the transaction was the start of a longer-term relationship.
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The Floridian insurer’s Q2 net income was pushed down by 64 percent to $2.41mn as high losses countered a 23 percent increase in earned premium.
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The Colorado State University scientists now predict just one major hurricane will strike this season.
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Nephila will provide data for the company’s instantaneous indicative pricing service which gives an immediate idea of the costs of a structure.
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A repeat of large losses could test earnings and capital adequacy levels for the top 20 reinsurers.
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This came as a reduction to net losses from 2017 catastrophes boosted quarterly results for the reinsurer. -
Insured losses fell to $21bn in 1H2018 with a European storm the costliest event.
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The retirement fund now holds $129mn across two Nephila funds.
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The ecclesiastical carrier works with unnamed global reinsurers to provide coverage which it claims as a first for Italy.
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This is the third estimate for the storm which affected a large portion of Europe.
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The latest figures from the loss-tracking agency put Hurricane Maria at $25.7bn, Hurricane Irma at $19.5bn and Hurricane Harvey at $17.6bn.
