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Documents show only one of its ILS investments, in the Medici cat bond fund, delivered a positive return for the year to 30 June 2018. -
The board of governors approved the increase during a teleconference on Friday, noting that losses in personal lines accounts due to hurricanes have decreased its surplus.
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Insurers are looking to line up private deals as a stalemate emerges over early firm-order terms averaging risk-adjusted increases of 15-20 percent year on year.
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The fair value of AP3's ILS portfolio rose by 10.7 percent to $560mn at year end in 2018.
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Issuances from United Insurance Holdings, American Integrity Insurance Company and Safepoint have all reflected an uptick in pricing compared with prior-year benchmarks.
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Opening up opportunities for different forms of capital is a key part of the Lloyd’s vision for a future of increased efficiency and lower costs.
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Insurer adjusts programme to seek slightly more aggregate and less “sliver” reinsurance cover.
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Mitsui Sumitomo has put its Typhoon Jebi losses up to 258bn yen ($2.4bn), compared with an initial estimate of 140bn yen.
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This will have implications for Allstate, State Farm, USAA and other insurers which have sued the utility over Camp Fire losses.
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The “limited purpose insurer” framework is designed to operate complex collateralised reinsurance vehicles.
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The framework introduced by the BMA last July allows companies to test new technologies and products on customers in a controlled environment.
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The ILW-focused company plans to go public before the end of the year.
