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The storms will compound wildfire losses and put reinsurers on Suncorp's aggregate covers on watch.
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ILS broker-dealers’ forecast cat bond issuance will range from $8bn to $11bn this year, reclaiming ground lost in 2019 when annual volumes plummeted more than 40 percent year on year.
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Quota share and aggregate-property cat contracts are under watch as a result of the recent Australian bushfires but occurrence covers will probably remain mostly unscathed, sources expect.
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New issuances fell to the lowest level since 2011, amid an uptick in risk levels and US exposures, according to Trading Risk data.
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Reinsurers pegged 2019 nat cat losses 23 percent lower than the 10-year average, but prior-year disasters created headlines.
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Cat bond fund returns rebounded in 2019, with widely divergent experience among ILS funds investing in private instruments.
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The exposure to this transaction across private ILS strategies varies from 1.7 percent to 1.9 percent of November's portfolio, the manager said.
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The company's cat losses for the reinsurance year to date have reached $1.55bn.
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Pricing on the ILW bond has dropped below the initial guidance range.
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Claims from the catastrophe have increased to 13,750 up from 10,550 at the end of last week, the ICA told local media
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Over the past decade, the cat bond market has produced an average annual return of 6.38 percent, and 7.48 percent for 2019, Aon has calculated.