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The bond went on watch after Mercury said it would exceed its $150mn retention. -
The Floridian also expects to report its “best earnings quarter” for Q4 2024.
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Models will need to steepen the curve in the tail to reflect severe event frequency.
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The carrier has been reducing its exposure to the area where the wildfires occurred by over 50%.
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Non-proportional business accounted for 34% of its total.
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The figure does not include specie or auto losses.
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Secondary pricing on the carrier’s Topanga Re bond partly recovered following the guidance.
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The platform will transform ILS transactions on behalf of Jireh and SRS clients.
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CEO Jim Williamson said social inflation was a “growing barrier” to a vibrant economy.
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The firm will advise and support third-party risk capital providers.
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The broker also plans to hire from LSN Re and Aon Re, as part of a build-out of its team in the French capital.
