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The insurer said it had no issue with “gaps” in its prior-year reinsurance cover for Irma.
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RenaissanceRe also revealed that it expects its Hurricane Michael losses to be as much as $100mn.
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The military insurer has returned to the cat bond market with its second issuance of the year, in a deal offering double-digit premiums.
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What’s in a promise to pay? That was one of the questions that was circulating at this year’s Monte Carlo Rendez-Vous.
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The insurer has eroded a third of the deductible on its aggregate Skyline Re bond, well below last year’s storm activity.
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The storm weakened to a tropical depression early Wednesday, with sustained winds of 25 mph.
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The initial figures put the National Flood Insurance Program’s reinsurance clear of triggering for the second time in two years.
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The asset manager and Oppenheimer’s former owner MassMutual have entered into an agreement which will bring Invesco’s total assets under management to $1.2 trillion.
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The latest NHC advisory update has put the hurricane at a level that will not be strong enough to trigger the Mexico's 2017 MultiCat cat bond.
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The storm remains at a strength that would lead to a 50 percent payout of the $110mn Pacific hurricane cat bond protecting Fonden, although it may weaken before landfall.
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Two-thirds of investors surveyed said they planned to either maintain or increase their allocation.
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The Bay and Gulf counties in Florida are likely to the bear the brunt of Hurricane Michael losses.