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Scor’s renewals update denotes a continued push to control volatility while Hannover Re is focused on growth.
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This is the fifth issuance from FEMA and carries a slightly higher multiple than the 2021 deal.
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The Cayman Islands reinsurer will source underwriting risk for a new feeder fund investing in non-cat securities.
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RenaissanceRe had raised $470mn for the high-risk fund platform a year earlier.
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Absent more significant reform, any changes this year look set to simply shift the timing of burdens falling on the public purse.
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The reinsurer is expanding its Bermuda presence under the leadership of Tracey Gibbons.
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The rise accounts for growth in the firm’s specialty auto book.
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Axis did not share any insurance premium with capital partners in Q4, while reinsurance cessions continued.
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The issuance is a similar size to that of 2021 and significantly larger than that of 2020.
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Total issuance during 2021 beat the previous annual peak of £11bn in 2020, according to an Aon note marking the cat bond sector’s 25th anniversary.
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Axa XL’s UK and Lloyd’s CEO said speed of decision-making was key to UK market growth.
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The insurer increased its occurrence treaty coverage by $300mn as the aggregate deal shrank, following a full loss to reinsurers in 2021.