Reinsurers
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Almost 300,000 people have been left without power from the storm. -
RAA president Frank Nutter says he hasn’t been able to get an update on the project from the now Trump-led NOAA.
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The programme structure was expanded, but it is unclear what percentage was placed.
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The bond will cover named storms in the state of Florida.
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The cost of reinstatement was included in $170mn wildfire net loss figure.
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The terrorism pool has shifted its programme from facultative to an XoL arrangement.
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The firm has rotated capital in sidecar Voussoir toward direct investor relationships.
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Hurricane Milton accounted for 60% of the firm’s Q4 large loss tally.
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A higher loss quantum will put a greater burden on retro programmes.
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The loss aggregator has classified the fires as two separate events for reinsurance purposes.
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The firm said the appointment would support its ambitious growth strategy.
