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The issuance is split between $100mn-$120mn of Class A notes and $115mn Class B notes. -
The insurer is seeking $100mn in Class A notes and $50mn in Class B notes.
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Exposure growth in Japan was in the low-single digits, reflecting a more modest inflationary environment.
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Governments could encourage cat bond issuance by lowering costs, a policy paper said.
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The carrier contended with 10 events over the month, with 75% of its losses stemming from three wind events.
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The council has appointed Deloitte to examine carriers’ performance during the crisis.
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Total economic losses came in well above average, driven by the earthquake in Turkey.
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High tornado activity at the end of the quarter is expected to add to the claims toll.
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The firm identified market inefficiencies in its analysis of loss data.
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The impact of the cyclone, which battered New Zealand in February 2023, was worsened by previous bad weather on the North Island.
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Most of the 708,255 claims relate to residential properties and arose from Lee County, Florida.
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More than 40,000 claims have been made in relation to Cyclone Gabrelle.
