Latent risk – The cat market’s inconvenient truth
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Latent risk – The cat market’s inconvenient truth

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Whether the Texas Deep Freeze ends as a $12.5bn, $15bn or $20bn insured loss, it will be a medium-sized cat event that will deal an earnings hit to carriers with exposure to the affected states.

Nevertheless, it will likely be more painful than the headline numbers suggest because it comes in the first quarter when (re)insurers can normally expect a low cat loss period.

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