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The measures also seek to encourage greater wildfire mitigation efforts. -
Losses were primarily driven by personal property lines.
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Models anticipate a busier second half, particularly in the next few weeks.
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The carrier’s chief buyer urged a partnership approach from reinsurers.
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Supply for property outstrips demand, but the casualty market is “bifurcated”.
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Despite rate reductions accelerating, the sector-wide combined ratio is set to remain below 90% through 2027.
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The ratings agency warned negative PYD on US casualty will likely continue.
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The firm has also updated the loss-calculation engines of existing Jeannie tools.
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The group claims the White House is undermining disaster preparedness.
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The US has been lucky over recent decades to avoid a $100bn insured hurricane event.
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The estimate covers property and vehicle claims.
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Both organisations still predict an above-average hurricane season.
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