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The HSCM co-founder said the cat reinsurance market was going through a profound shift that would open ILS opportunities for growth.
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The ILS broking leader was speaking at the first in-person Munich Re ILS roundtable at the Monte Carlo Rendez-Vous since the pandemic.
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The CEO said the (re)insurance industry is not doing enough to meet the climate challenge ahead.
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The broker said it would help clients to think creatively and act quickly in accessing capital.
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The broker said 2022 cat bond issuance was likely to match the record levels of 2021.
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Moody’s, S&P and Fitch all see current conditions as potentially allowing for ILS growth.
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The broker said some reinsurers were planning for significant growth in property catastrophe as demand is expected to pick up pace.
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Loss creep from Hurricane Ida has led to the loss and an increase in loss reserves.
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ILS risk-sharing should stick to peak risks, the reinsurer argued.
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Cat bond funds posted their first profitable month since March.
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Performance is expected to recover in H2 due to rising rates, the broker-dealer forecast.
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The leadership restructure comes on the 25th anniversary of White Rock Group.