Two farm bureaus that reinsure into American Agricultural have taken ground-up losses of almost $500mn from the US spring storms, while sister title Inside FAC revealed that Munich Re was looking at a gross loss of $650mn from a manufacturing facility damaged by the freak weather.
The Insurance Insider understands that the Kentucky Farm Bureau is looking at claims of $390mn from PCS catastrophes 66 and 67, while the Indiana Farm Bureau has incurred losses of $100mn.
Modelling firm Eqecat...
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