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The impact of Hurricane Hermine on reinsurers and cat bonds is likely to be limited, according to Fitch Ratings
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The pension fund for South Korean public officials is looking to make an investment in cat bonds, according to local media.
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Cooperation and joint ventures provide a better way for the insurance industry to consolidate and achieve efficiencies than M&A, Axis Re CEO Jay Nichols said at this morning's Pre Monte Carlo briefing, hosted by sister title The Insurance Insider
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Ledger Investing aims to help the ILS market "look and feel more like other asset classes", the start-up's CEO Samir Shah told Trading Risk.
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A prolonged period of reinsurance market consolidation is the likely outcome of pressure from capital market capacity, according to A.M. Best's special report on the reinsurance sector.
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American Strategic Insurance reported an 11 percent increase in storm losses covered by its Gator Re cat bond during July, taking the claims total to 85 percent of the deal's $175mn trigger point, sources said.
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Zenkyoren is seeking to raise up to $250mn of three-year aggregate earthquake insurance cover from a new Nakama Re cat bond, Trading Risk understands
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Storm Hermine moved further offshore during the weekend than initially forecast, reducing the potential storm surge threat to the US northeast coast.
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The varied, international nature of second quarter catastrophe events has made reinsurer sidecars the most likely source of losses for the ILS market, as the vehicles help to keep the earnings hit for carriers to a manageable level.
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Weather risk has come back into the ILS spotlight with the launch of a Market Re private cat bond that uses a parametric trigger to cover a warm European winter event.
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AP3 shrinks ILS; ILS Advisers gain; Cat bond loss payments; Philippines cat scheme; Italian quake losses; Zurich longevity deal; CPPIB eyes Ascot; AP2 returns; Louisiana floods
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The cat bond market will expand further beyond property catastrophe after taking on new perils in the past year, according to participants in sister title The Insurance Insider's "virtual roundtable" before the Monte Carlo Reinsurance Rendez-Vous.
