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Betting services company Lottoland has completed a second EUR100mn ($113mn) collateralised reinsurance transaction that will provide it with cover against unexpectedly high payouts.
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ILS managers Nephila and Aeolus are among the top providers of reinsurance to both United Insurance Holdings and American Coastal, which agreed a merger deal yesterday (17 August).
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United Insurance Holdings CEO John Forney said that the company expected to achieve significant reinsurance synergies from its merger with fellow Floridian insurer American Coastal.
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Schroders has significantly increased its stake in Blue Capital Global Reinsurance, according to a London Stock Exchange filing.
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Munich Re is among the reinsurers working with the Municipal Insurance Association of British Columbia (MIABC) to develop earthquake insurance for local governments in the province, according to reports.
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A return to average catastrophe activity could take a harder toll on reinsurers as profitability has eroded in the past four years, as carriers are now twice as likely to fail to break even in any calendar year, according to Standard & Poor's (S&P).
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AIG has agreed to sell its mortgage insurance business United Guaranty Corporation (UGC) to Arch Capital in a $3.4bn deal.
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Concerns about the potential for market manipulation contributed to Lloyd's decision to shelve its proposed market loss index.
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Exchange Re became the first ILS platform to launch in Malta after receiving approval this week from the local authorities
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The publication date of draft regulations for a UK ILS regulatory framework has been pushed back, sister publication The Insurance Insider has learned.
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State National has revealed it earned $5.5mn in ceding fees by fronting for Nephila in the first half of 2016, up from $5.2mn for the same period of last year
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Tropical Storm Risk (TSR) has reduced its July outlook for the current hurricane season, predicting activity in the Atlantic will be slightly below the long-term average.
