June 2018/4
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No sooner do we start saying that the specialty P&C public company is a dying breed than Sirius decides to reverse itself into a US listing.
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The Bermuda-based firm had $500mn of ILS under management in 2017.
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The financial services company may look to gain a credit rating for the Bermuda-based vehicle.
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The latest issuance includes European windstorm, as well as US wind and quake.
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Corporate bond holdings also increased, as carriers shied away from covered bonds.
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Reverse merger will leave reinsurer with Nasdaq listing and implied market cap of $2.2bn.
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Looser wordings in standalone cyber insurance mean the product is moving beyond what it was originally designed for, and could introduce systemic losses to the market, sources said.
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The direction and timing of the missive feels right - let's hope Lloyd's tackles syndicates' other issues with the same gusto.
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Lawmakers approve an amendment that lightens restrictions on commutation and voluntary restructurings.
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A tougher stance from local markets means brokers are having to work hard to place their property D&F accounts, sources said.
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