Scor
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The CEO stated that the carrier’s 7 percent growth target is not reliant on M&A.
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The reinsurer cited its upcoming acquisition of Coriolis as part of plans to expand its ILS presence.
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Trading Risk looks at the dominant themes that the ILS market will be discussing at the 63rd Monte Carlo Reinsurance Rendez-Vous in September.
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Industry leaders have lifted the expected total loss to a new high.
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The French reinsurer put the industry loss from the typhoon at $12bn-$15bn as it stated it is covered up to a $22bn market hit.
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The reinsurer’s combined ratio deteriorated slightly due to Q2 weather events, as it benefited from retro recoveries.
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The reinsurer’s $150mn Atlas IX Capital 2015-1 cat bond has partially triggered following an accumulation of PCS losses, sources said.
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The combination would have around $2.1bn of assets under management.
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M&A deals have resulted in reinsurer affiliated businesses overtaking the market share of independent ILS firms, but asset managers have also grown their share via new launches since 2014.
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The bond priced towards the upper end of Scor’s initial target.
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One of my colleagues with an affection for Denis Kessler’s turn of phrase once labelled him the Beyonce of the reinsurance world.
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Coriolis execs Diego Wauters and Martin Jones will stay for at least two years to continue to run the business.