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Pure cat bond funds outperformed the sub-group which includes private ILS for the year. -
Early evidence is leading the (re)insurance market to hope the storm can avoid the development curve of its 2017 predecessor Hurricane Irma.
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The carrier’s maximum event retention for the Auckland event is A$236mn.
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Cat activity and financial market volatility had impacted investor’s allocations to ILS and redemptions, Markel said.
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The carrier said GWP was up 12.7% to EUR33.3bn.
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All four of the firm’s key third-party vehicles were profitable in the quarter.
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Excluding agriculture, Chubb’s P&C CoR rose to 85.9% in Q4 from 85.4% the prior-year quarter.
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An imbalance of capital supply and demand led to strong increases to spreads at issuance for index-linked and indemnity bonds.
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More rain is forecast for Auckland, with three 'heavy rain warning – red' notices issued today.
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Following recent hurricanes, more than 610,000 residential property claims were filed in the state.
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The intermediary tallied $360bn in economic losses worldwide.
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Mayor Wayne Brown said infrastructure and emergency services had been overwhelmed by the storm’s impact.
