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The deal of the size was unchanged at $100mn. -
He joined Nephila in 2023 from Lancashire as a senior underwriter.
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Gokul Sudarsana has been with the company since 2020, having joined from Deloitte.
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The Swiss rail pension scheme has been cutting its ILS allocation since 2018.
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The Swiss pension fund’s ILS allocation stood at 4.9% of the total fund as of 25 March.
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Suzanne Wells is also joining the company from Arch as COO.
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The bond will provide protection against China, India and Japan quake, and Japan typhoon.
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The subject business covers a portfolio of residential insurance.
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The announcement spurred a quick spike in stock market valuations.
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KCC is part of the CDI’s review into creating a public wildfire cat model for insurers.
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The sponsor is estimating a loss of ~$300mn in relation to one of last month’s US tornado events.
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Despite wildfires, reinsurers are “well positioned to maintain strong profitability in 2025”.
