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The bond is offering investors a spread range of 1,050-1,150 bps.
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The Canadian pension’s sole remaining ILS allocation is with Fermat.
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Rich had spent 13 years at the firm where he began his career and oversaw a cat bond and ILS portfolio.
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The Swiss Re veteran left her former employer last year.
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The company increased its full year 2024 adjusted net income guidance.
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Concerning hurricane forecasts are among the factors driving tighter reinsurer capacity.
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The bond provides named US storm coverage and US and Canada quake protection.
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The proposals include increasing either statutory or CRTF funds.
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The program includes all perils coverage and third-event protection.
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The Sussex Capital ILS platform managed $440mn at its 2019 peak.
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The syndicate has appointed former Munich Re active underwriter Stuart Newcombe.