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Its reinsurance premiums ceded are expected to reach $207mn, up from $175mn a year earlier.
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The severe flooding has the potential to change the outcome of 2022 renewals after muted European cat rate increases this year. -
Cat bond fund managers continue to reap growth as the industry has rebounded from its Covid dip.
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Environmental, social and governance (ESG) factors were the primary driver in 13% of ratings actions in the year to the end of March, according to AM Best.
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Catastrophe losses for the month fell to $195mn, a sharp drop from the prior year’s $752mn.
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The blaze is threatening 600 structures in a year when the number of wildfires has exceeded that of record-breaking 2020.
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Citing this summer’s heat waves and the drought across the West, AM Best warns that insured wildfire loss totals may climb higher than 2020’s $1.2 bn.
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The storm was the earliest named E storm, forming nearly six weeks earlier than average.
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Local government pensions funds in the UK are partnering up, creating new strategies and may seek diversification.
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The loss was subject to claims inflation due to building supply and labour challenges.
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In a filing, the company said he was leaving the post “to pursue another opportunity”.
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It hit north of Tampa, and storm surge warnings for wider Gulf Coast were discontinued.
