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The cat bond will initially cover named storms in Florida and South Carolina.
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The cat bond will cover earthquake and named storm events.
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Some $415mn of capacity entered the market last year.
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Pricing guidance has also been updated to between 8%-8.25%.
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Estimates were revised from $845mn to $740mn.
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The bond will provide protection against Japanese flood and quake events.
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Sabine Re marks Allied Trust’s entry to the market.
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ILS platform London Bridge II has had a good year as volumes reached $750mn, the CFO said.
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The bond will provide named storm coverage in southern US states.
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All funds tracked returned a positive performance.
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Exposure updates played a greater role than expected.