Property
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The carrier attributed the intensification of storms this season to climate change. -
CEO Jonathan Zaffino said he saw opportunities for expansion in casualty.
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The firm is understood to be reviewing contracts to bind coverage for 1 January.
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The loss figure has increased 200% from the initial number provided in October.
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Other capacity supporting the syndicate is mostly individual Names, sources have said.
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The deal is offering a multiple of 13.6x on the sensitivity case expected loss.
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The floods add to an already historic loss tally for Canada in 2024.
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Helene losses were spread wider than initially suggested, in contrast to Milton claims.
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The ILS unit’s AuM was higher by $100mn compared to $1.9bn as of 30 June.
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The new funds will target the US wealth market through financial professionals.
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A total of $2.1bn in Fema money has been approved for the state.
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Tyler left Gallagher Re earlier this year.
