Property
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The consortium will offer up to $50mn of per-program capacity. -
The carrier has previously tapped capital markets with Cape Lookout Re transactions.
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The carrier’s Armor Re deal upsized by 33%.
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The most extensive damage was caused by rainfall in Texas, Louisiana, Mississippi and Florida.
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Sums insured for European windstorm increased by 10.1% due to inflation.
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The value of White Mountains’ stake in the ILS manager grew last year despite the firm shrinking its holding.
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The firm, one of three major reinsurance fronts, said it would manage run-off in an orderly way.
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Eleven hurricanes are predicted, with five expected to reach Category 3 or higher.
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FHCF rates are also projected to decrease by a statewide average of 7.38%.
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The estimate is up from A$1.4bn, published by Perils in February.
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Reinsurers have a "strong desire" for growth, but not at the expense of underwriting.
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The announcement confirms earlier reports from this publication.
