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Aggregated losses are likely to be around the long-term H1 average of $8.5bn. -
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Cat bond spreads stabilised as maturities brought capital to deploy into the market, after an earlier spike.
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Grenada and St Vincent and the Grenadines are under the most threat from the storm.
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The broker estimated ILS capacity reached a record $107bn as cat bond interest surged.
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The estimate is up from A$1.5bn, published by Perils in April.
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The broker said high ILS maturities would boost cat bond issuance though the hurricane season would impact capital availability.
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Berkshire Hathaway and Canada Life Re will provide as much as A$680mn of protection annually.
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The Gallagher executive called it a “relentless start to the year”.
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The model uses machine learning and daily data to forecast hurricane seasons.
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Riots erupted in the Pacific Island territory last month over electoral reforms.
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The claims tally has increased 7% since the last estimate a month ago.
