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The headline figure of $7.15bn includes $2.91bn of DaVinci equity plus debt. -
Some Canadian cedants have approached the market for top-up cover.
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The Brian Duperreault-led reinsurer start-up has secured a cornerstone investor and aims to have an ILS fund running from day one.
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Guy Van Hecke has spent the last 26 years working at Axa, starting at Axa Corporate Solutions.
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The expanded team aims to increase capability across global specialty lines and property specialty retrocession.
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The loss has increased by 1.4% since the company’s first assessment.
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The transaction complements its previous acquisition of RMS in 2021.
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The broker said it expects strong ILS capital inflows to continue.
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The deal will boost the investment consultancy’s ILS capabilities.
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Urban expansion, climate change and inflation are key drivers of losses.
