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The carrier’s mega bond is seeking coverage for Texas named storm. -
The carriers are seeking $130mn of Class C named storm coverage.
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The executive brings over 30 years of (re)insurance experience to the role.
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The broker said 1 April Japanese renewals reinforced positive trends in the US at 1 January.
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The carrier has updated the pricing guidance to 8.75%-9%.
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The bond will cover named storms in the state of Florida.
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Several prior-year cat losses deteriorated during the quarter.
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Drop-in capital has now largely left the cat bond market.
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Sources said the deal was roughly three times over-subscribed as cat becomes hot.
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The multi-peril coverage was due to expire in June 2026.
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The platform distributed ~$50mn to investors for 2023.
