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This takes pre-tax cat losses for the calendar year to $1.23bn -
Spreads on all tranches of notes settled above the initially guided range.
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CFO Dacey said ILS investors were not extrapolating too much emphasis from strong returns in 2023.
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P&C re and CorSo reported improved net profits and combined ratios for the quarter.
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The capital will be allocated to a pure cat bond strategy, sources have confirmed.
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The management’s buyback acquisition brings an end to the two-year relationship.
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The carrier experienced a benign Q1 for catastrophic loss activity.
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Large losses came to EUR52mn with low retro recoveries.
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The former Neuberger Berman managing director confirmed the new role in a LinkedIn post.
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Both vehicles’ credit ratings outlook was also deemed as stable.
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The carrier also reported a $16mn satellite loss during the quarter.
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The sponsor was targeting between $850mn-$1.1bn of coverage in the latest mega-bond to hit the ILS market.
