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Gallagher Re’s chief science officer warned that US SCS activity will keep rising. -
Lara's plan, backed Thursday by an executive order from California Governor Gavin Newsom, repackages elements of a proposed bill that collapsed earlier this month.
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Cat bond investors are sufficiently capitalised to fulfil demand from an anticipated strong pipeline of new issuance in Q4.
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Inver Re used data from the National Oceanic and Atmospheric Administration (NOAA) to model the impacts of global warming for a Category 1 hurricane making landfall in Florida.
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Carriers have announced significant exposure reductions in the state this year.
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SCS accounted for nearly two-thirds of global first-half catastrophe losses.
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The final report said the majority of the losses occurred on Kyushu Island with 74% of the total industry loss.
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According to the National Hurricane Center, Lee made landfall at Long Island, Nova Scotia, on Saturday.
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ILS capacity in the form of retained earnings and new inflows is shaping up to meet growing demand for reinsurance and retro coverage.
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With winds speeds around 80mph, Lee is now a Category 1 hurricane but is still expected to be ‘a large and dangerous storm' by the time it reaches New England and Canada.
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His role change — following that of LCM leader Darren Redhead in 2021 — raises questions over the firm’s future ILS strategy.
