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As the renewal is expected to spill over into 2022, the two-speed market will put pressure on retro-reliant carriers. -
The firm’s listed fund took a 2.5% gain for post-2017 class C shares.
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The Netherlands-based insurer is seeking EUR75mn from its first ILS transaction.
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Juan Andrade’s employment agreement has been extended through the end of 2023, with automatic annual extensions following this term.
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It had previously sought $100mn.
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The move comes amid limited availability of annual aggregate cover.
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The bank’s ILS team said they would favour remote, occurrence named peril structures to minimise increased climate exposure.
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The BMS meteorologist said early data indicated “truly historic outbreak”, and that similar events typically cost the industry in the low-single digit billions of dollars.
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The target firm deals in engineering, energy, P&C and specie.
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Ariel Re previously sought $150mn worth of cover from the aggregate retro deal.
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Cat risk-takers are benefitting from some money leaving the sector, but is this disruption creating inefficiencies as well?
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The status will allow the Stephen Catlin-led business to write US reinsurance without posting reinsurance collateral.
