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Outrigger Re will write a quota share of Ark’s Bermuda property treaty book.
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The modeller also said that losses to the National Flood Insurance Program will likely remain under $300mn.
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The geo-political groups have launched the Global Shield against Climate Risks, a scheme that will deploy financial support for vulnerable countries during cat events including via insurance provisions.
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The transaction will add Latin American hurricane and earthquake modelling capabilities to Aon’s product suite.
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Marsh McLennan is mobilising the insurance industry to support the UN’s Race to Resilience initiative, starting by featuring 17 climate adaptation projects.
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The carrier pushed London brokers for a reduction in the traditional 15% commission.
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The impact of Ian losses on SiriusPoint’s total equity was ~3.5%, lower than RenRe and Everest, and in line with Axis.
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PE funds considering a play in the catastrophe space are far more likely to be looking for an alpha play.
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The Gulf Coast state is keen to distance itself from Florida’s insurance woes but is resistant to some underlying changes.
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Inflation, heightened cat activity and years of poor reinsurance returns are fuelling demands for wholesale change in the European market.
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The two Lloyd’s players are the first to bring sidecars to market as they seek to capitalise on surging projected returns.
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Cedants may find past behaviour coming back to haunt them, while brokers should be preparing in depth to achieve simplicity.