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Insurance Insider ILS revealed last week that the executive was leaving Property Claims Services. -
The loss aggregator has classified the fires as two separate events for reinsurance purposes.
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Wildfire is rarely singled out as an exposure that can shift portfolio outcomes.
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Two ILS funds featured in the top five asset-raisers within the index.
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The fall marks this the first time in 20 years the index has been negative in January.
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More than 33,000 claims had been filed as of 5 February.
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The firm will match segregated accounts of portfolios to investor mandates.
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The combined entity ranks third in the Insurance Insider ILS leaderboard.
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The carrier is “extremely well capitalised” to achieve its strategic ambitions.
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The insurer disclosed the estimates as it seeks emergency rate hikes from regulators.
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The company will ‘aggressively pursue subrogation’ for the Eaton Fire.
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The LA fires ‘demonstrate the magnitude of tail events not well captured in modelling’.
