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A difficult fundraising environment had not eased during 2022. -
The Italian group previously halted writing catastrophe excess-of-loss business.
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Reports said at least 641 people have died and thousands are injured, with damage to 1,500 buildings.
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The (re)insurer has been reorienting itself away from writing property cat.
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The company's portion of net written premiums from Fidelis is expected to be around $550mn to $600mn for the full year.
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The broker said cedants will return for extra property cover after a tough 1.1.
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The transaction is the first proportional deal for cyber risk in the capital markets.
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The firm missed its earning per share target for the quarter.
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The new firm has registered Jireh Re (SAC), an unrestricted special purpose insurer, with the Bermuda Monetary Authority.
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The carrier has renewed two of its quota shares with continental reinsurers with final negotiations underway.
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Key themes of the renewal that resonated across the ILS investor base include the elevation of attachment points, though lack of take-up of named perils coverage may disappoint some.
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The full size of the sidecar for 2023 will be known when Class B notes are issued in January.
