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Aon Benfield: $50bn net cat loss needed to turn US P&C market

8 September 2010

A catastrophe event that delivered $50bn in net losses to the US insurance industry would be sufficient to turn the soft market in 2010, industry leaders heard today (8 September).

Speaking at The Insurance Insider's pre-Monte Carlo briefing in London, Aon Benfield co-CEO Dominic Christian said that it would take a $30-$50bn net permanent hit to the US property and casualty (P&C) industry to move the market, with a catastrophic earthquake or hurricane the most likely trigger.

Christian said, for...

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