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The new data points will likely continue to play into a narrative of "missing" price increases that have been widely discussed by industry participants but do not appear to show in industry pricing surveys.
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It took “a lot of players” to fill the capacity gap left by AIG in E&S, the executive said.
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The Florida carrier places $1.45bn of reinsurance limit with a lower average net rate on line for the coastal account placement.
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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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California-based insurer has expanded its reinsurance coverage during what was a fairly flat renewal for the carrier.
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The company’s reinsurance spend as a proportion of earned premium rose to 33.3 percent – up 2 percentage points.
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Huge differentiation in outcomes for buyers as reinsurers reward quality cedants.
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American Integrity Insurance and Safepoint have looked to tap the ILS market this week.
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A significant increase in demand is being met by constrained supply at current pricing levels.
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Majority of Florida firm order terms hit the market, but many participants think capacity shortfalls are likely at current price levels.
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Citizens will be among the buyers to come late to market with its 2019 cat programme as reinsurers push hard for rate rises.
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The organisation results results of a survey which showed an average rate increase of 3.5 percent.