Property
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The flattish outcome comes after a larger year-on-year hike in January. -
The estimate is up from A$1.5bn, published by Perils in April.
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The broker said high ILS maturities would boost cat bond issuance though the hurricane season would impact capital availability.
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The broker said the mid-year reinsurance renewals benefitted from “more than ample” capacity.
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The groups highlighted technical hurdles to implementation at a Wednesday hearing.
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The model uses machine learning and daily data to forecast hurricane seasons.
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Evercore is leading the capital raise process and Aon is assisting with the Lloyd’s application process.
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The bond is seeking coverage for named storm, severe thunderstorm and winter storm.
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There was a 12% increase in flood sums insured to C$7.3tn.
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Loss estimates are coming in for the weather event in Bavaria and Baden-Württemberg.
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The deal is offering a multiplier of 6.6x on the expected loss.
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Torrential rain caused flash floods in the Gulf States in the middle of April.
