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The reinsurer is thought to be buying the ILW protection for its own account, sources said.
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More claims are expected to be lodged in coming days and weeks.
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Only 18 of the 33 funds made a gain for the month.
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The Australian insurance organisation put cumulative insured losses at A$431mn ($299.1mn) for the bushfire season.
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The Australian carrier boosted its overall reinsurance cover but cut back aggregate protection.
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More than 400 claims were lodged in the past day.
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The broker's chairman of international business James Vickers said reinsurers are only trimming capacity on the edges of the cat market.
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While temperatures hit 40c in every state and territory early this week, strong winds and lightning strikes in certain regions fed the flames.
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The weather is expected to cool in the coming days but more high temperatures are due later in the week.
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Insurers ceded 52 percent of gross losses in 2018, an increase of 2.4 percent on the 2017 total.
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Damaging wildfires in recent years have made it more challenging for homeowners to find affordable insurance.
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More than 830 homes and 62 facilities have been destroyed in NSW so far this fire season.