Catastrophe bonds
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This was the second issuance completed by Farmers via its Bermuda reinsurance vehicle Topanga Re. -
The finance committee discussed shifting market dynamics as tort reform takes effect.
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PoleStar Re Ltd 2026-1 includes three sub-layers, which run for a three-year term.
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The ILS manager has $6.8bn in assets and will be led by MariaGiovanna Guatteri.
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The measures also seek to encourage greater wildfire mitigation efforts.
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Cat bonds have outperformed private ILS strategies in the YTD, according to ILS Advisers.
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Cat portfolios generally grew, but casualty approaches varied.
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The PRA will also have to report on turnaround time for new approvals against 10-day and six-week targets.
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Gallagher Re said rates had softened in 2025 versus the prior two years.
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Sentiment at the ILS Connect event hosted by Insurance Insider ILS was generally positive.
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The state insurer of last resort is set to purchase $2.89bn of reinsurance this year.
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Its 2025 programme exhausts at $9.5bn excess $1bn.
