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Most of the 708,255 claims relate to residential properties and arose from Lee County, Florida. -
More than 40,000 claims have been made in relation to Cyclone Gabrelle.
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Reserve releases connected to 2017 events helped the segment deliver a 95.6% combined ratio.
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Global reinsurers also reported a slight deterioration of their combined ratios in 2022, with the average for the year being 95.7% compared with 94.7% in 2021.
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The bond is seeking coverage for Florida named storm.
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The reinsurer said cat reinsurance rates hit a 20-year high, driven by losses, inflation and financial markets.
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Swiss Re estimates that inflation has peaked but is likely to remain persistent in 2023.
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The devastating quake left more than 50,000 dead and destroyed 160,000 buildings in Turkey.
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The cat bond market is thought likely to receive an outsized portion of any capital inflows.
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The estimate is an increase on the figure released by Perils in December, which gauged the insured losses at 120bn yen.
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Allstate disclosed a $211mn catastrophe loss in February based on nine separate events.
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Investors have been experiencing inflows while new volumes in Q1 were lower than expected.
