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The vehicle has $2.55bn in capital committed by institutional investors. -
There are many unknown factors including insurance gaps, high-value property and damage to critical infrastructure.
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The estimate has reduced slightly since the modeler’s last update in October.
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The appointment comes after the departure of Mark Benbow, who is joining Westfield.
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Mathieu Loisel joins the reinsurance broker from New Re.
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McGill was recently included in Warburg Pincus’s multi-asset continuation vehicle.
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A $30bn industry loss would use one-third of Big Four’s 2025 cat budgets.
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The reinsurance attaches at $7bn, unchanged for the past two years.
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Robin Hamilton has been appointed head of energy and marine liability.
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Market softening means exploiting hardening niches is the name of the game.
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Sources said that the new paper is replacing PartnerRe capacity that was backing the MGA.
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Sources say the Fair Plan is under-reserved, leading to the possibility of member assessment.
