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Continental cedants are looking for support for third and fourth events.
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In Partnership With Swiss ReJens Melhorn, Head of Property Treaty for EMEA at Swiss Re discusses key reinsurance topics, including global conflicts, natural catastrophe trends, and the growing need for public-private partnerships to keep insurance affordable.
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In Partnership With AonEuropean casualty business is not exposed to the challenges of the US market, with its social-inflation pressures, Aon co-CEO of reinsurance solutions EMEA Tomas Novotny reiterated during a video interview with Insurance Insider at this year’s Baden-Baden conference.
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Capital diversity can only be achieved when there are more options for third-party providers to access.
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The company said $13bn-$22bn will come from wind damage.
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The carrier highlighted Italian and French hail events in recent years.
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The estimate includes private cover for residential, commercial and industrial property.
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With the storm’s losses looking more favourable, questions over rates and gross/net strategies will arise.
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An estimated $6bn to $9bn will be ceded to the FHCF, and $6bn to $10bn to traditional reinsurance markets.
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The cost to the NFIP is likely to be a “mid to high single-digit-billion impact”.
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Setting aside the storm’s greater potential insured loss scale, the flood risk implies greater exposure.
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Contrary to expectations that US casualty would dominate the conversations, Milton took the spotlight.