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The carrier is “very optimistic” on Japanese and US renewals this year, and outlined plans for growth in various lines and regions.
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The carrier said Texas claims are beginning to drop off with quota share and minor perils cover in place to help minimise its retention.
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Policyholders have filed some 730 claims after fires hit hills outside the western city.
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The modeller said it is “likely” that the number of claims could exceed the high of Hurricane Harvey in 2017.
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The Insurance Capital Fund combines US wind cat bonds with subordinated debt issued by European insurers.
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ARPC said the move improves the pool’s capital strength.
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ARPC said the move improves the pool’s capital strength.
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Aggregate cat bonds and quota shares may be exposed although the loss would typically be expected to skew to the traditional binders and insurance market.
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The ratings agency says it will continue to monitor whether the cat event could affect the rating outlook for any entity.
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The veteran risk modeller says claims will be driven by the combination of anomalous temperatures that are well below average in a region unprepared for such a sudden freeze.
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The nature of the event means that more losses may take time to emerge.
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In a note to clients seen by this publication, the risk modelling firm says the event may break records for insured winter storm losses.