Results
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The pension fund is drawing back its investments in Aeolus and Nephila and set up a new mandate with Pillar.
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The firm took $175mn of qualifying losses as cat claims dropped notably from last year’s Uri-impacted quarter.
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The carrier said lines including political risk, credit and surety and aviation were facing claims.
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The firm’s Syndicate 2357 had halved losses to $41.5mn during the year.
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The syndicate won new backers after Credit Suisse ILS significantly scaled down support.
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The feeder fund to Neuberger Berman ILS strategies took a defensive stance ahead of 2021 Atlantic hurricane season.
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The ILS manager’s Lloyd’s business delivered a $55.5mn profit, on an 86.5% combined ratio.
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The corporation’s major losses tallied £3bn, half the level of 2020, with Hurricane Ida driving half these claims.
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Exposure management is prevalent and underwriting profitability is patchy.
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The reinsurer exceeded its large-loss budget by $166mn.
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HCI is waiting for the right moment to maximize its chances in Florida.
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Losses and loss adjusted expenses at the Florida-based firm rose to $63mn from $40mn in Q4 2020.