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The company no longer has any exposure to reinsurance contracts. -
The regulations are part of a state effort to expand wildfire coverage.
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Overall, reinsurers accepted that rate cuts were still leaving them with strong margins.
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The reinsurer said investors were interested in expanding after benefiting from good results.
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The bond will provide multi-peril coverage in the US and District of Columbia.
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TSR anticipates that next year will see an ACE value of 129 compared with the 30-year norm of 122.
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The state reinsurer of last resort discussed options for 2025 reinsurance buying strategy.
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Former ILS investors who left the space have looked again and re-allocated.
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Losses are concentrated in the states of Baden-Wuerttemberg and Bavaria.
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It estimated insured losses from nat cats on track to exceed $135bn in 2024.
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The carrier attributed the intensification of storms this season to climate change.
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Lloyd’s has taken around 6% of aggregate US hurricane losses in recent years, and disclosed estimated net losses from Helene and Milton of $1.8bn to $3.4bn.
