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Returns could remain at that level if the current period remains loss free.
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A paper in the journal Nature argues that climate change is fuelling the problem.
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The storm caused flooding and storm surges along Florida’s Gulf Coast -
It is expected that the transaction will close in the first quarter of 2021 and that Vault will retain its A- rating from AM Best.
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The pullback from incumbent backer Credit Suisse is influenced by concerns over returns against a long-term capital lock-in, as the manager’s AuM has shrunk.
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The start-up, which is targeting a Day 1 IPO, will target a 5%-6% dividend yield and a mid-teen ROE.
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Purchasing the analytics firm will help Willis meet growing demand for climate change services.
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The storm struck a state park area around 135 miles north of Tampa.
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The German carrier says P&C gross written premiums expanded 3% to $27.3bn in the period.
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The rating of the new company has been assigned on a pooled basis.
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The carrier expects its total losses to reach EUR700mn-EUR900mn, as Covid claims reports begin to flow to reinsurers.
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The state’s largest property carriers faced over 5,000 new lawsuits last month.
