Reinsurance
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The managing agent has also restructured into two separate divisions for insurance and reinsurance.
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The Lloyd’s carrier reports an 11-month investment return of 0.5 percent amid volatile market conditions.
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Validus is also expected to take a $60mn net loss from the Californian events.
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The reinsurer pegged global insured losses at $25bn, and overall cyclone losses at $51bn.
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The executive will set up a financial and professional lines unit.
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Even the best-laid plans rarely survive the briefest of exposures to harsh reality. Insurance is a case in point.
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The European property cat treaty renewal at 1.1 looks set to disappoint.
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The $15bn-$20bn wildfire losses have caused the ILS-dominated retro market to seize up.
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Mt Logan will not be the only reinsurer vehicle impacted by Stone Ridge’s retractions, but has emerged as the first such example.
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Watson becomes class underwriter for property treaty.
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Regulatory uncertainty has prompted a reduction in capacity, the broker says.
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Pollen Street Capital will buy the business through insurance-focused vehicle Specialist Risk Investments.
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