Canada
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The MGA will write natural resources professional liability business. -
The late March storm caused extensive damage in southern Quebec and Ontario.
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The executive previously spent 15 years in a variety of roles at Zurich.
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Up to nine million acres of US land are considered likely to burn.
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The estimate covers property and vehicle claims.
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The storm is likely to be one of the costliest weather events in Canadian history.
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Compared with its initial figure, CatIQ’s latest estimate has increased by 40%.
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The executive will replace retiree Michael Miller.
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The estimate has reduced slightly since the modeler’s last update in October.
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The 2024 loss figure exceeded that of the previous record of C$6.2bn in 2016.
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The floods add to an already historic loss tally for Canada in 2024.
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We may be in the midst of US hurricane season, but international catastrophe losses can emerge at any moment.
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