Stocks
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The reinsurer said it hopes to grow the size of the $13.75mn deal over time. -
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The coverage will be parametric based on the central pressure of the storm.
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The multi-peril coverage was due to expire in June 2026.
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The rise comes as competition has increased for ILS between jurisdictions.
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The Cayman Islands entity raised $2.4mn last June.
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The initiative will focus on fostering innovation through the Lloyd’s Lab.
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Some $415mn of capacity entered the market last year.
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The company proposed a dividend of EUR1.8 per share for 2023.
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The firm’s assets under management dropped to $1.6bn, as a capital return more than offset new inflows.
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Head of alternatives Gareth Abley believes the asset class remains attractive following a 16% return in 2023.
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The carrier announced a capital repatriation plan of EUR3.5bn.
