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The midpoint of the updated spread range promises a multiple of 5.8x the expected loss.
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The insurer's Q1 cat losses dropped by more than two thirds.
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The insurer said it was two thirds of the way to attaching a UK reinsurance treaty.
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Covid-19-related catastrophe losses at TransRe contributed to a Q1 underwriting loss.
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The carrier expects event cancellation losses from Covid-19 in the “mid-triple-digit-million euros”.
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Losses stemmed largely from February hail, tornado and wind events in the southeastern US.
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Losses from 2019 Japanese cat events have risen by nearly 13 percent since mid-March.
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The bond has less limit than the firm’s other issuances but offers 125 bps more return.
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The broker's total insured loss estimate spanned $11bn to $140bn, depending on the recovery from Covid-19.
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Storms last week could add hundreds of millions of dollars to loss estimates.
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Disasters include bushfires and hailstorms, and some 242,000 claims have been lodged.
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The carrier’s P&C reinsurance business reserved $253mn for Covid-19 in the quarter.