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Schroders Capital ILS chairman Dirk Lohmann said the shift could be due to yield compression in the bond market. -
Retro rates were in some cases falling by mid-year, ahead of the recent losses.
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The World Bank issuance has deployed granular data to match closely the trigger to economic losses, fund manager Plenum said.
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The firm’s head of business intelligence Mike Van Slooten said strong capital levels contrasted with cat loss activity running above budgets.
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Reinsurers with third-party capital platforms said to be well-positioned for a return to growth in alternative capital.
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The flooding in the northeast increases scope for commercial lines and auto losses.
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The catastrophe cover is more than twice the size of the 2020 deal.
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It is not so much the size of the hit, as the regularity of moderate cat events that is worrying risk-takers.
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The speciality residential and commercial house has a focus on earthquake, hurricane and flood risk.
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The carriers with the largest Louisiana market shares also ceded more than $100mn to Lloyd’s syndicates during 2020.
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The area of Laplace was the worst impacted on ICEYE’s list, with a total of 10,390 structures affected, 370 of which were in a high depth of water.
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Overall the cat bond market will be lightly impacted by the storm, with the Swiss Re total return index down 0.35%.
