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The peril can no longer be considered secondary, according to Gallagher Re. -
Both groups continue to call for a highly active season, however.
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Several bonds suffered declines in value from February to July.
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Debby should be a “very manageable” storm for the (re)insurance market, it said.
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Subsidiaries Core and Typtap have applied to participate in the November Citizens policies assumption.
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The storm brought a lot of rain, but the Floridian doesn’t provide flood insurance.
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The loss is based on modelled outputs, as opposed to an initial loss estimate.
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The board of directors has voted for a 10% rate hike.
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Fee income at the Re & ILS division grew by 58% to $44.3mn in H1.
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Severe thunderstorms, mainly in the US, accounted for 70% of insured losses globally.
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Its forecast for intense hurricanes is unchanged at six.
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The NHC has said there is potential for “historic heavy rainfall” across southeast Georgia and South Carolina.
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