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The InsurTech uses AI to calculate the severity of extreme weather events. -
The executive first joined Vantage in 2021 after stints at Hamilton and Allied World.
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The ILS manager said returns on casualty ILS were "much higher than on the diversifying nat cat perils such as Italian quake or German flood".
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The life segment has shifted from its genesis in mortality and morbidity risk transfer as lapsed risk deals have proliferated.
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Removing any competitor is a positive for ILS peers in a competitive time for fundraising, but it is not clear how much of a boost this will give RenRe.
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Early private deals have provided far more stability in this year’s renewal than last.
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RenRe will be taking control of ILS manager AlphaCat as part of its purchase of Validus Re.
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The deal includes AIG's AlphaCat platform.
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Softening cat bond rates are among the bearish signals for cat rates, but latent new demand and still-cautious supply should prolong reinsurer gains.
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This comes as the reinsurer is preparing a major equity raise to attack the harder reinsurance market.
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Net proceeds will be used for general corporate purposes, which may include expanding its existing business lines and operations.
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Details of the placement are being closely guarded, but one source suggested the raise could be in the region of $1bn.
