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The firm’s 2020 edition cat bond has also lost $3.2mn. -
Insurers will prioritise claims made by affected policyholders, and claims will be triaged to direct urgent assistance to the worst-affected property owners
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This estimate would rank Eunice as the most damaging European windstorm event since Kyrill in 2007.
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The ruling deemed that the restaurant group was entitled to separate payouts for multiple premises.
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German actuarial firm Meyerthole Siems Kohlruss warned the losses represented a “turbulent” start to the year.
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The final bill is likely to be higher as further damage occurs due to gusts of wind.
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European windstorm cat bonds mainly cover the less-affected countries of the Netherlands and France.
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This is the fifth issuance from FEMA and carries a slightly higher multiple than the 2021 deal.
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Absent more significant reform, any changes this year look set to simply shift the timing of burdens falling on the public purse.
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The latest raise takes the satellite firm’s total financing to $304mn.
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The private equity fund has identified modelling and risk transfer as areas of focus.
