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News of adverse development from the two Floridians may point to a market-wide issue.
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Amid the information overload of results season, “man-made catastrophes” appear to be the main emerging theme – albeit manifesting in two very different ways.
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The aggregator will provide loss data from earthquakes, floods and extratropical cyclones.
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Latest loss estimate comes after the company had estimated Faxai losses of $5bn to $9bn.
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CoreLogic exposure data suggested homes worth hundreds of millions were at risk.
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All the carrier's new cat losses were retained net.
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Wildfire recoveries benefitted DaVinci investors and RenRe's retro partners in Q3.
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Faxai and Dorian claims pushed year-to-date cat losses taken by the P&C reinsurance unit to $1.1bn.
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At this stage, destroyed property numbers remain well below the thousands impacted in the major 2017-2018 fires.
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This came as the deal priced at the bottom of the initial range at 515 basis points (bps), according to sources.
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The firm's reinsurance CEO John Doucette said the firm saw “select opportunities” to grow its retro book.
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Firefighters have made some progress containing the Tick Fire in Southern California, but high-value suburbs have been evacuated due to the Getty Fire.