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The bond’s spread has settled at the top of the (re)insurer's target range.
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Surge warnings are in place, with the tropical storm forecast to move across Arkansas and Missouri.
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Cristobal could impact the Gulf Coast as a tropical storm late on Sunday.
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The university scientists now expect nine hurricanes, up from eight in their earlier forecast.
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Primary property and facultative covers will respond to losses under civil commotion clauses.
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BI and cancellations are the major drivers of its loss.
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The bond will pay a considerably higher spread than the Alamo Re bond issued last year.
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Both tranches of Avatar’s second-ever Casablanca Re cat bond have had their spread guidance increased by 16-18 percent.
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The German reinsurer’s performance “will decline” this year amid Covid-19 turmoil.
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After Bertha’s landfall, the firm also noted that 2020 has joined 2010 and 2016 as an early year for named storm activity.
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The FHCF opted to “sit this renewal out”, according to sources.
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Fires alone set to cost insurers A$2.3bn.