Stocks
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The provider beat analyst expectations with operating earnings up 30.5 percent.
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The NAV per share has dropped by 2.6 percent since the turn of the year.
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The seventh issuance this year takes the annual total to $134.08mn.
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The platform was launched by Guy Carpenter in 2017, and this is the first year it has transacted deals.
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The Reinsurance Opportunities fund holds $40.2mn in cash across its two share classes, with the remainder invested or in side pockets.
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The Sompo International-owned company said it expected to return most capital by the end of 2020.
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The withdrawal of Catco created retro opportunities for the reinsurer, according to the CEO.
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The insurer’s second-quarter pre-tax catastrophe losses increased to $275mn, compared with $211mn last year.
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The insurer’s stock price improved after Capital Returns Management filed notice of its desire for board changes.
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The fund has produced gains throughout a quiet 2019, after boosting 2018 reserves.
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As ILS funds are set to disappear from the London Stock Exchange, analysts say that it could take some time for investors to reconsider the sector.
