Rates
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The European earthquake bond will pay investors a 450 basis point spread.
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Cat bond investors received better risk-adjusted rates on new issuances, but lower risk levels meant average spreads fell year on year. -
The consultancy firm also argued that the World Bank should buy more pandemic cover after receiving a payout under its cat bond programme.
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Rate increases should continue but may be increasingly fragmented by January 2021.
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Reduced exposures take the vertical limit on carrier’s cat programme down to A$6.5bn from A$7.2bn.
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An influx of underwriting capacity will likely limit the extent to which reinsurance rates rise, the agency said.
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RoLs could rise moderately in July with stronger gains in January, market participants said.
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The Florida Senator says tackling legal fees is a priority as demand for reform grows – but it will take time to implement.
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An active hurricane season could further amplify RoL increases, the investment bank warns.
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The insurer has raised its projected policy count by 20 percent.
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Florida Citizens received more than 500 new Irma claims each month up until April, which has slowed 30 percent from 2019.
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Lower deployable capacity and looming Covid risks added pressure, the firm said.
