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The final pricing is as the top end of the recently updated estimate. -
Initially, the government sought $360mn of coverage.
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ILS returns in 2023 sparked a flurry of enquiries from hedge funds.
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This is up from the recent increase to $1.2bn.
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The cover will be triggered on an indemnity, annual aggregate basis.
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This came as the broker earmarked “material softening” of minimum traditional rates on line.
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Proceeds from the sale will be used to fund sustainable development projects.
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The carrier’s mega bond is seeking coverage for Texas named storm.
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The carriers are seeking $130mn of Class C named storm coverage.
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The carrier has updated the pricing guidance to 8.75%-9%.
