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The board of directors has voted for a 10% rate hike. -
The moves mark a major step in realising “trillion dollar” casualty ILS potential, according to Ledger Investing CEO Samir Shah.
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The broker is yet to participate in a cyber cat bond.
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The manager is looking to buy positions on the secondary market.
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The rise is equal to 5%-10% of catastrophe capacity purchased, including cat bonds, depending on region.
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Two Eclipse Re notes totaling $34.8mn were issued last week.
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Cat bonds, private ILS and retro are "strongly overweight".
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The property market remains “one of the most favorable ... I've seen in my career,” the executive said.
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The market is expected to seek additional exclusions around systemic events.
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Hannover Re's cyber bond pays on a parametric basis for each hour after an agreed waiting period.
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The analyst estimated Beazley’s loss from the global outage at $80mn-$120mn.
