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Nephila’s income rose steeply owing to changes in its funds’ product mix. -
The slowdown was based on a conviction of “higher likelihood of frequency events” this year.
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Over 75% of insured losses attributable to severe thunderstorms, flooding and forest fires.
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The firm also posted a 56% increase in fee income.
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Losses from mid-sized nat cats added 9.9 points to the P&C combined ratio.
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The deal announced in its Q2 results came as the carrier agreed a take-private deal.
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The ILS manager leaderboard demonstrates the ongoing popularity of cat bonds.
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The combined Twelve-Securis entity would be a top-five ILS firm currently.
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The firm said losses could fall under $300mn if more favourable assumptions were applied.
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The property market remains “one of the most favorable ... I've seen in my career,” the executive said.
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Urs Ramseier will be CEO and Herbie Lloyd CIO.
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The event would represent a loss ratio impact of roughly 3%-10% on global cyber premiums of $15bn today.
