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In its first public cat bond since 2013, the firm joins peers in seeking aggregate retro cover.
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The Axa XL cat bond was so oversubscribed that some investors had their allocations reduced by 60-70 percent, Trading Risk can report. -
The firms, which provide banking and ILS services, have joined to create the sixth largest US commercial bank.
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The (re)insurer had previously removed two tranches from the multi-peril transaction
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Insurance coupons on the latest Everest Re cat bond are more than 20 percent higher than a similar issuance in 2017.
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Varying levels of Japanese exposure led to a wide range in individual fund returns.
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It is the first ILS vehicle to receive the credential from the FNG.
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The (re)insurer pulled two layers of cover from the deal as it affirmed pricing targets on three others.
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The typhoon is expected to reach Category 3 status by Tuesday local time, but the ILS cover is geared towards payouts for even stronger events.
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Artex reserved for an 8 percent loss to the $18mn aggregate retro transaction, a BSX note said
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The fund manager holds just over $100mn in the Bermudian's Keystone funds.
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Late November flooding in parts of southeastern France and northwestern Italy follows an active year for weather losses in Italy.
