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Losses from the hurricane may not significantly impact on many funds’ annual returns. -
Hurricane Milton will show the ILS product behaving as investors expect it to.
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The raise includes minority investments from Nationwide, Enstar and others.
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Katarina Scamborova has been appointed president of the new vehicle.
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Sidecar vehicles are being tailored to match investors’ objectives.
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Everest losses ceded to Mt Logan grew by 63% to $26mn.
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Aspen said reduced reinsurance appetite made it a good time to seek alternative capacity.
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The announcement confirms earlier reports from this publication.
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Sources said the deal was roughly three times over-subscribed as cat becomes hot.
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The Cayman Islands entity raised $2.4mn last June.
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The Truist-owned cat MGA had reduced its line size to $50mn last year.
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The vehicle is 52% larger than it was at launch 3 years ago
