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The deal is offering a multiple of 13.6x on the sensitivity case expected loss. -
The association’s Hurricane Beryl net loss stood at $455mn as of 30 September.
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The estimate includes $102mn from Milton and $114mn Helene development.
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The bond is targeting $225mn of limit across the Class A and Class B notes.
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The floods add to an already historic loss tally for Canada in 2024.
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Spreads at levels favourable to sponsors could power Q1 2025 pipeline.
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Helene losses were spread wider than initially suggested, in contrast to Milton claims.
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The notes provide coverage in the US and District of Columbia but exclude Florida.
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Twia’s SCS losses in Q1-Q3 2024 have been more than double the budgeted amount.
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The sidecar was established to enhance RGA’s access to capital for its US asset intensive business.
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This publication revealed that Chris Schaper would move into the role on an interim basis in July.
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Fema's traditional reinsurance programme will attach at losses of $7bn and above.
