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The ILS manager leaderboard demonstrates the ongoing popularity of cat bonds.
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The combined Twelve-Securis entity would be a top-five ILS firm currently.
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The firm said losses could fall under $300mn if more favourable assumptions were applied.
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The property market remains “one of the most favorable ... I've seen in my career,” the executive said.
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The profile of the loss could provide comfort to investors around exposure diversification.
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Urs Ramseier will be CEO and Herbie Lloyd CIO.
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The event would represent a loss ratio impact of roughly 3%-10% on global cyber premiums of $15bn today.
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The market is expected to seek additional exclusions around systemic events.
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The reinsurer raised $84.5mn of third-party capital in the quarter.
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The weighted average direct financial loss for a Fortune 500 firm was $44mn.
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The sale is expected to be completed by the end of the year.
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The executive will replace Habib Kattan, who joined the company last summer.