RenaissanceRe
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Although estimates for the Q3 disasters vary, in aggregate the events are likely to generate insured losses north of $10bn.
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Almost two-thirds of the losses are expected to stem from homeowners’ claims.
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The Bermudian is facing $155mn of Q3 cat claims, and shareholders can expect “modest net income” when the company posts its results for the period. -
Reinsurers now have fresh impetus to argue for flat renewals at 1 January.
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Michael losses are likely to fall on the reinsurance market due to the low attachment points of the Floridian homeowners’ insurers.
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The Insider 50 rose 0.5 percent last week to reach 1,155.8 index points.
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Holding an asset because you think someone else will ultimately buy it from you at a higher price is called a “greater fool” thesis.
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The firm’s strength as an alternative capital provider may prove a lure, analysts say.
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The Bermudian carrier has come under pressure from activist investor TimesSquare Capital to take advantage of market consolidation.
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The investor claims various potential acquirers would "covet" the Kevin O'Donnell-led reinsurer.
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Validus, Nephila and Everest lead reinsurers providing Irma payouts to Citizens.
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The German reinsurer’s gross written premium rose to $37.8bn to reclaim the top spot in AM Best’s rankings.
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