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The NFIP will bear the brunt of losses from Hurricane Barry, according to industry analysts.
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The mid-year renewal included $135mn from a Bermuda-listed placement, which shrank from $278mn after the insurer revised the covered portfolio.
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The Californian utility has agreed the settlement with 18 public entities following a series of wildfires from 2015 to 2018. -
The insurer said half of the losses came from one weather event in the Midwest.
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The reinsurer has secured $60mn of protection against named storms and earthquakes in the US from the capital markets.
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The Toronto-based firm had already been collaborating with Perils for the past two years.
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Congresswoman Maxine Waters has proposed the new law to end lapses in National Flood Insurance Program coverage.
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The buyer spends $55mn on a 30 percent stake in the Chicago ILS fund manager.
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The ILS market faces a test to recover position as it loses market share to traditional players.
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American Integrity Insurance and Safepoint have looked to tap the ILS market this week.
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Arch Capital backed hedge fund carrier’s outlook graded “stable”.
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The insurer expects to complete its Florida placement later this quarter.
