Reinsurance
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The cover, which is stable from 2019, was brokered by Aon.
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The acquisition expands Lighthouse’s footprint into Florida and creates a firm with $200mn in premiums written.
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This comes after Everest Re previously let a mid-year renewal lapse, with ILS capacity scarce.
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The total premium outlay for the programme rose by 10% to $272mn.
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Bisset has worked at Aon and legacy entities for more than 20 years.
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The company, which shelved tentative IPO plans last year, said the offering is subject to market conditions.
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The carrier only bought $620mn of new private reinsurance limit as it didn’t want to lock in multi-year cover at current rates.
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Cristobal could impact the Gulf Coast as a tropical storm late on Sunday.
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The spectre of wholesale trapping of capital ahead of 1 January is further dislocating the market.
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Strikes, riots and civil commotion wordings in US property policies leave both the US and London markets open to potentially significant losses.
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The Florida-based insurer’s spend rose by 17 percent to $262mn.
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The carrier retained more risk in the first layer of its programme.
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