Australasia
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Both carriers have extensive reinsurance coverage. -
Almost 300,000 people have been left without power from the storm.
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Retention levels for reinsurance fell across the different geographies the carrier operates in.
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The Australian carrier disclosed A$426mn in net cat losses during H1.
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The carrier enters H2 with a clean reinsurance programme.
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This follows a ruling to declass the representative proceeding filed against IAL.
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The carrier said reinsurance was a key component of its “low-volatility strategy”.
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David Hughes has a line size of A$10mn with a global mandate.
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The cyclone pool received $479mn in GWP in the year to 30 June 2024.
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