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She said potential hurricane activity was just one factor impacting the 2025 outlook. -
Berkshire Hathaway and Canada Life Re will provide as much as A$680mn of protection annually.
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Reinsurance sources say the pool targets the wrong aspects of Australian cat losses.
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SCS caused global insured losses worth at least $8bn in the first quarter of 2024.
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A standalone syndicate could offer capital, trading, and licensing advantages.
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Reinsurers are much better placed to absorb cat losses; insurers are carrying more risk.
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Concerning hurricane forecasts are among the factors driving tighter reinsurer capacity.
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The proposals include increasing either statutory or CRTF funds.
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Based in London, the executive will report to Ocean Re CUO Jamie Wakeling.
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The carrier reported 1 April price increases of 3.2%.
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The timing of the incident could leave carriers running large net exposure for the remainder of the policy year.
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Rates are still materially higher than pre-pandemic and lower layers are holding firmer.
