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Cat bonds, private ILS and retro were all kept at “strongly overweight”. -
The multiple offered on the deal is around 2.5x the expected loss.
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Milton is expected to move north of the Yucatan Peninsula today and cross the eastern Gulf of Mexico by Wednesday.
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A strong forward pipeline will require fast work by ILS investment houses.
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The headline figure of $7.15bn includes $2.91bn of DaVinci equity plus debt.
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Some Canadian cedants have approached the market for top-up cover.
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The ratings agency said comparing companies was complicated by the adoption of IFRS 17 accounting.
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Reinsurers continued to diversify into primary and specialty business.
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The CEA has $326.4mn towards risk transfer, 44% below budget.
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Everest losses ceded to Mt Logan grew by 63% to $26mn.
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The CEO cited ‘no change’ in appetite from a shift in the capital mix.
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Allocators are waiting for 2024 to pan out, according to Hiscox CEO Aki Hussain.
