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Most of the ILS capital was attracted to the cat bond market. -
Cat bond funds continue to draw interest as private ILS more challenged.
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Some Canadian cedants have approached the market for top-up cover.
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The loss has increased by 1.4% since the company’s first assessment.
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The transaction complements its previous acquisition of RMS in 2021.
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The broker said it expects strong ILS capital inflows to continue.
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Urban expansion, climate change and inflation are key drivers of losses.
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The rate change will be implemented in November.
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The Insurance Bureau of Canada said the blaze damaged one-third of the Jasper community.
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The P&C Re CoR came in at 84.5%, a 10.2-point YoY improvement.
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The CEA has $326.4mn towards risk transfer, 44% below budget.
