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The 1 June renewal posed challenges for Florida insurers seeking reinsurance cover.
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It is the reinsurance company’s first entry to the cat bond market.
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Rates have climbed 20%-35% since 1 January, and 40%-50% year on year, sources estimated.
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Some cedants remain far behind in a stressed renewal, but others are on the path to completion in a reshaped Florida market.
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Aeolus must return the held collateral to Credit Suisse.
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The fund’s prospectus showed 2017 was its only negative year since 2014.
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Despite a move away from non-official indices, global ILW trading is still sometimes relying on a patchwork of triggers.
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The 2020 start-up raised $115mn from the Montoya Re bond.
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The feeder fund to Neuberger Berman ILS strategies took a defensive stance ahead of 2021 Atlantic hurricane season.
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Reciprocal carriers could become more popular, but while this could better serve capital providers it does nothing to address underlying problems.
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It will offer components for buyers looking for indemnity, parametric or blended coverage.
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The reinsurer said it was anticipating increased volume for catastrophe bonds and collateralised reinsurance this year.