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Ultimate losses from the Palisades, Eaton and Hurst fires are estimated at $4bn. -
The LA-based firm estimated gross cat losses in the range of $1.6bn-$2bn.
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The role at PCS included acting as primary touchpoint for ILS.
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Its post-tax estimate of $1.3bn is net of reinsurance recoveries.
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This year's modelled outputs have increased across all return periods.
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Underinsurance, total loss claims, and high property values have impacted loss estimates.
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The annual claims totalled £5.7bn, the largest amount paid out in any year.
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Claims in recent months have brought a period of benign loss activity to an end in the class.
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The storm is likely to be one of the costliest weather events in Canadian history.
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But cat bonds are experiencing negative secondary market price movement.
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The company did not take questions on its recently announced business review.
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The carrier disclosed it will book $1.1bn in net losses from the California fires.
