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There are signs that Florida’s insurance industry is coming under increasing legislative scrutiny. -
This will be Brit’s first cat bond issuance since its 2020 deal through Sussex Capital.
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This came as the market’s underwriting profit dipped 10% for 2024.
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Some $4.8bn of reinsurance and cat bond limit will come up for renewal in 2025.
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Some $625mn of new issuance entered the market in the first week of March.
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There is the potential for cat bond H1 issuance to be a record breaking six months.
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As of 14 February, the company received 405 claims.
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The London D&F market will shoulder most of the losses.
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The bond will provide fire protection for MGA Bamboo’s California business.
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The reinsurer pegged the market loss at $40bn.
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The role oversees the $187bn Canadian pension plan’s ILS allocation.
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Dispersion of returns was high, with the range 0.87% to -3.71%.
