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The Floridian also expects to report its “best earnings quarter” for Q4 2024. -
Models will need to steepen the curve in the tail to reflect severe event frequency.
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Both the Class A and Class B notes increased in size.
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The latest issuance will add extra cat bond limit, with a $100mn note still on risk.
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The figure does not include specie or auto losses.
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Secondary pricing on the carrier’s Topanga Re bond partly recovered following the guidance.
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The carrier also has a $500mn excess $2.4bn aggregate protection.
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The company received over 10,100 home and auto claims as of January 27.
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Compared with its initial figure, CatIQ’s latest estimate has increased by 40%.
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Fermat stayed in the top spot surpassing $10.0bn for the first time.
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Secondary market pricing indicated anticipated California wildfire losses.
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The reinsurer has issued updated pricing for the instrument.
