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The carrier said Texas claims are beginning to drop off with quota share and minor perils cover in place to help minimise its retention.
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Policyholders have filed some 730 claims after fires hit hills outside the western city.
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The modeller said it is “likely” that the number of claims could exceed the high of Hurricane Harvey in 2017. -
A weakening La Nina and warm sea temperatures in the tropics raise the specter of elevated catastrophes for the rest of the year.
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The reinsurer lifts the division's Covid-19 loss assessment by EUR28mn in the fourth quarter within a set of results that beat expectations.
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Alleghany’s combined ratio improved 15 points to 98.9% over the period, driven by a 13.5% fall in the carrier’s loss ratio.
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The Insurance Capital Fund combines US wind cat bonds with subordinated debt issued by European insurers.
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ARPC said the move improves the pool’s capital strength.
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ARPC said the move improves the pool’s capital strength.
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The Dutch investment house has been given a slightly higher ILS target this year, at 2.7% of total assets versus 2.5% previously.
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Aggregate cat bonds and quota shares may be exposed although the loss would typically be expected to skew to the traditional binders and insurance market.
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The ratings agency says it will continue to monitor whether the cat event could affect the rating outlook for any entity.
