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Buyers and sellers are eyeing a 20% RoL, but contracts have yet to trade.
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Buyers are looking to protect against a mid-sized loss, although trades are not believed to have taken place yet.
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Retro specialist Richard Wheeler will head the unit, which will focus on sourcing third-party capacity.
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The $3.9mn claim followed an August revision to the PCS Irma loss estimate.
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The broker has recruited a significant team to build out in the retro space.
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The growth follows the reinsurer expanding its relationship with PGGM.
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A number of major carriers have bought new catastrophe covers, but the overall gain is likely to be muted, brokers forecast.
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The hedge fund has asked that a US court order Catco to apply a loss estimate from PCS, rather than an allegedly “inaccurate” one from Munich Re NatCat.
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The German insurer has placed a new EUR200mn worldwide cat agg deal.
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Reinsurance capacity has largely bounced back from an initial Covid-19 hit, but the ILS segment remains more disrupted.
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The climate and insurance entrepreneur is considering relaunching catastrophe exchange-traded products.
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The deal could be expanded by up to 50 percent at the top end of pricing guidance.