Top Section
Gallagher Re pre-landfall estimate sets insured losses at $30bn-$40bn
The cost to the NFIP is likely to be a “mid to high single-digit-billion impact”.
Latest News
A roundup of all the news you need today, including Hurricane Milton making landfall near Siesta Key.
Florida concentrated property insurers are expected to face capital struggles.
It also reported that severity increased by 17% in the same period.
The estimate applies to a landfall south of Tampa Bay.
Behind the Headlines
Behind the Headlines: Hiscox Re’s Nick Orton on evolving international cat risks
We may be in the midst of US hurricane season, but international catastrophe losses can emerge at any moment.
Behind the Headlines is a fortnightly podcast hosted by Insurance Insider's senior reporter Sam Casey.
Get the inside scoop on the major stories shaping the London market through discussions with the journalists who broke them. Plus, hear from industry professionals on what these developments mean for the (re)insurance sector.
Every other Friday morning, Behind the Headlines will break down the biggest stories of the last two weeks. Sam will discuss these stories with the journalists who broke them: Catrin Shi, Fiona Robertson, Rachel Dalton and the rest of Insurance Insider's award-winning editorial team.
Plus, he will interview the big names from the London market, getting their perspectives on the state of the industry and the latest headlines.
Opinion
Could trade credit be an untapped growth niche for Lloyd’s?
Increased interest follows ratings agency upgrades of Lloyd’s paper.
Most Read
-
Milton will be a more complex test for Lloyd’s than Ian
10 October 2024 -
PPL inks deal with Microsoft for new trading hub
10 October 2024 -
Category 3 Milton makes landfall near Siesta Key
10 October 2024 -
Morningstar DBRS predicts Milton insured loss at $30bn-$60bn
09 October 2024
Analysis
Most sources noted expectations of a $50bn+ event, but the range of outcomes is huge.
Space insurers are running at a near-200% loss ratio after booking losses of over $1bn in 2023.
Many insurers have cut back lines in Lebanon, although larger insured sums are at stake in Israel.
Sources expect significant loss amplification in the claims that will come from Georgia, the Carolinas and Tennessee.
More News
-
Hurricane Milton now a Category 4 storm: NHC
09 October 2024 -
Augment Risk hires Gallagher Re’s EVP Paul
09 October 2024 -
NFIP on watch as Milton approaches
09 October 2024
-
Verisk pegs Helene at $6bn-$11bn in latest loss estimate
09 October 2024 -
Southern shift of Milton puts Sarasota in track of storm
09 October 2024 -
Hurricane Milton restrengthens to Category 5: NHC
08 October 2024
Interviews
Interviews
Nick Orton said the market is now pricing for non-peak perils, amid some surprise losses.
Pockets in the business are still experiencing significant stress, she added.
The MGA aims to capitalise on the growth and maturation of the continental MGA sector.
The executive said that being in Lloyd’s would help the carrier’s global distribution.
Upcoming conferences & awards
Insider Progress Breakfast Briefing
Unlocking Neurodiversity
Venue: Marsh McLennan, Tower Place, London
Insider Progress US Breakfast Briefing
Venue:
Greenberg Traurig, LLP, One Vanderbilt Avenue, New York, NY 10017
Executive Business Club Meeting *Invite only*
Venue: Greenberg Traurig LLP, 1 Vanderbilt Avenue, New York
Upcoming webinars
In Partnership with
hyperexponential
Join Insurance Insider, in partnership with hyperexponential, for a free webinar, 10:30 EDT/3:30 BST on October 10
In Partnership With
Moody's
Join Insurance Insider, in partnership with Moody’s, for a free webinar, 10:30 ET/15:30 GMT on December 4
In Partnership With
S&P
Join Insurance Insider, in partnership with S&P Global Market Intelligence, for a free webinar 10:30 EDT/14:30 GMT, Oct. 29
In Partnership With
Markel
Join Insurance Insider for a free webinar, 10.30 ET/15.30 GMT on 15 October,
Upcoming industry events
From our other titles
From our other titles
From Insurance Insider US
What will happen to MGAs, reciprocals and sidecars as the market turns?
MGAs outpaced the P&C industry for years, but growth has begun to stagnate.
From Insurance Insider ILS
Expanding appetite for cat bonds is spurring a new generation of funds
The P&C industry reported its best Q2 combined ratio since 2021, but was still a loss-making underwriting result.
From Insurance Insider US
WSIA counterpoint: All that glitters is not gold in E&S
A large number of new entrants and the growth of litigation finance challenge E&S enthusiasm.
From Insurance Insider ILS
Beazley adds $290mn cyber ILW limit to its reinsurance protection
The deal has reduced the carrier’s one-in-250-year cyber loss scenario from $651mn to $461mn.