RenaissanceRe
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The Cal Phoenix Re cat bond was the first cat bond to cover wildfire on a standalone peril, as well as the first third-party liability issuance.
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Property cat reinsurance rate rises still lag behind those of primary insurance, executives said during Q2 conference calls.
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Other similar types of platform in the Bermudian (re)insurer’s portfolio have also grown.
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The Insider 50 grew by 1.5 percent last week, with all but 13 companies in the index posting a gain in their share prices.
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The reinsurer’s CEO declared it “the best market we have seen in years”.
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The reinsurer’s combined ratio improves as estimates of 2017 cat costs decline.
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While reinsurers are benefiting from low cats, pricing fundamentals remain weak.
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There were positive share price changes over the quarter from only 13 companies in the index.
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The total for the year stands at $798.56mn.
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Underwriting opportunities become the focus in Q4 2017 and Q1 2018.
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The key to working together relies on developing symbiotic relationships, CEO Maffeo says.
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The executive will focus on retrocessional property catastrophe business at the Bermuda company.
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