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The intermediary tallied $360bn in economic losses worldwide. -
Mayor Wayne Brown said infrastructure and emergency services had been overwhelmed by the storm’s impact.
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Speaking on the company's Q4 conference call, the executive said the market should not assume that WRB will become a heavy cat-exposed writer.
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The firm’s flood solution will be available to layer on top of existing parametric hurricane wind policies.
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The (re)insurer has been reorienting itself away from writing property cat.
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The loss aggregator pegged the loss figure at A$791mn in its initial claim estimate.
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The broker found that the insured-loss figure for 2022 was nearly 60% higher than the annual average over the 21st century.
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The world’s largest investment company has assets under management of more than $10tn.
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Total economic losses are likely to be between $5bn and $7bn.
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The company's portion of net written premiums from Fidelis is expected to be around $550mn to $600mn for the full year.
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The 17% uplift in its retention comes as reinsurers push for higher attachments.
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The regulator examined carriers’ ability to model nat-cat and cyber events, with mixed results.
