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Geico more than tripled underwriting profits. -
The ‘life threatening’ hurricane has potential for “historic heavy rainfall” in the southeastern United States.
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A Q3 listing remains a possibility, but the timeline can change rapidly amid storm season.
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The broker said less than 1% of companies globally with cyber insurance were impacted.
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The deal will include Axa IM’s alternatives funds including ILS.
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The insurer said once firms give up lower attachments or aggregates they “simply do not get them back”.
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Insurance Insider ILS reported in June that the company had bought substantial ILW coverage.
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The broker is yet to participate in a cyber cat bond.
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Total pre-tax cat losses for the quarter grew sixfold YoY to $135mn.
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Nephila’s income rose steeply owing to changes in its funds’ product mix.
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The slowdown was based on a conviction of “higher likelihood of frequency events” this year.
