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The issuance is split between $100mn-$120mn of Class A notes and $115mn Class B notes. -
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The insurer is seeking $100mn in Class A notes and $50mn in Class B notes.
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Exposure growth in Japan was in the low-single digits, reflecting a more modest inflationary environment.
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Governments could encourage cat bond issuance by lowering costs, a policy paper said.
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The carrier contended with 10 events over the month, with 75% of its losses stemming from three wind events.
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In the first quarter of the year, the total global economic loss for all natural hazards was estimated at $77bn.
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Aon expects depleted shareholder equity to be restored over time via higher retained earnings and the ‘pull-to-par’ effect of bonds approaching maturity.
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The council has appointed Deloitte to examine carriers’ performance during the crisis.
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Nationwide Mutual is looking to raise $150mn in $50mn tranches of Class A-1, B-1 and C-1 notes.
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On March 31, the National Weather Service counted 618 storm reports and 104 tornado reports, both records for the year to date.
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Total economic losses came in well above average, driven by the earthquake in Turkey.
