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Private ILS strategies boosted overall sector performance as cat bonds continued to lag. -
Sources say investor capacity may be returning to the market, but hurricane season could “make or break” the market.
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Widespread rainfall, thunderstorms and flash flooding is expected to continue until Tuesday.
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Flash flooding and landslides are expected.
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The March earthquake that struck Fukushima in Japan will cost $2.3bn.
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The property reinsurance market may be fast approaching a true ‘hard’ market, the broker said.
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Managing director Laura Twidle is to replace founder Joel Baker, who will become vice chairman.
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Close to 225,000 insurance claims relating to the event have been lodged across both states.
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The carrier’s losses from the Melbourne earthquake and various large storms have also exceeded initial estimates by $8mn.
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The new recruit has worked for Argo, Allianz and the European Space Agency.
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The segment’s lustre has been dulled by losses and capital trapping.
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Storms from 16-23 June added to a “very active” quarter for the peril.
