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The final report said the majority of the losses occurred on Kyushu Island with 74% of the total industry loss. -
The InsurTech claims five former staff, including the CEO and CFO, forged signatures and impersonated bank staff.
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The project which began last year in Zurich has now expanded to a group standing for $29bn of ILS assets under management globally.
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A total of $386mn has been issued in private cat bond deals this year.
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A Delaware judge has ruled in favour of Vesttoo’s automatic stay in the bankruptcy case.
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ILS capacity in the form of retained earnings and new inflows is shaping up to meet growing demand for reinsurance and retro coverage.
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The Official Committee of Unsecured Creditors is turning the spotlight on Vesttoo’s current board and management.
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His role change — following that of LCM leader Darren Redhead in 2021 — raises questions over the firm’s future ILS strategy.
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Frontier’s employees, including director and co-founder Peter Brodsky and CEO Derek Winch, will remain in their current roles.
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European and Bermudian reinsurers are expected to be the most favorably affected by the current environment.
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Data from the broker indicated that around 70% of global losses were driven by SCS, with events in the US causing $35bn of insured losses over H1.
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The founding members include Munich Re, Gallagher Re, and BitSight.
