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The ratings agency is reviewing the impact of Floridian insurers’ reinsurance buying at 1 June.
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The companies will target facultative and treaty reinsurance in lines including property cat and construction.
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At last reinsurance pricing seems to be succumbing to hardening forces within the US market.
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Citizens plans to source $1.4bn of reinsurance limit for its coastal account, up from $1.27bn last year, as more of its multi-year cover elapses.
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Treasurer Josh Frydenberg cites Covid-19 recovery and support efforts.
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Reinsurers lift price expectations while cedants come to market ready to make concessions.
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The Floridian said reinsurers face "real credit risk" on some of the poorer performing carriers in the state.
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Citigroup and RBC note the reinsurer’s strong solvency position.
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The executive replaces Chris Fleming, who has been at Catalina since 2005.
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Property reinsurers seem to be preparing to draw the battle lines on Covid-19 claims around T&Cs.
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The purchase is the latest in a string of deals for R&Q, including an agreement with the UK P&I Club last month.
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The purchase follows the 2019 launch of the Lion Rock Re sidecar.