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The modeller said 70% of losses will come from Germany and a quarter from Belgium.
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The earthquake that hit the island’s southwest peninsula on 14 August is estimated to have caused $1.7bn of total losses, according to the firm’s Caribbean earthquake reference model.
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The PRA has proposed that where non-life legacy transfer deals involve a carrier in run-off, the acquirer may have to go through a Section 166 review under certain circumstances.
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Overall figure was driven by a deep winter freeze, hailstorms and wildfires and marked the second highest first-half figure behind 2011.
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Tropical Storm Fred could also hit Florida on Friday, but it is too early to predict the exact, time and magnitude of its impact.
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So far, damage costs caused by the California fire are thought to be below $1bn.
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Wolf will remain with the company to assist Gregory during a transition period lasting until September 30.
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The fire is the second largest in California’s history behind the August Complex Fire last year.
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The deal follows a $37mn reserve charge taken by Third Point Re just ahead of the closing of its merger with Sirius International in February.
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More than 100 fires have burned through provinces across Turkey, killing eight people as temperatures reach record highs.
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Reinsurers using Europe primarily as a diversifier to counter risk in peak cat zones are increasingly faced with significant loss events on the continent.
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The modeller said repairs to infrastructure could run into months.