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The event now includes a casualty portion and has officially been re-branded as the Property and Casualty Symposium. -
The MGA and 49% owner SiriusPoint could bring in a new investor.
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Compared with its initial figure, CatIQ’s latest estimate has increased by 40%.
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Guy Carpenter said personal-lines exposure would account for 85% of the aggregate loss.
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The total includes fire and smoke damage plus living expenses for evacuees.
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The fire started Wednesday morning and is currently 0% contained.
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Losses from the larger fire will amount to $20bn-$25bn, the modeller said.
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The broker said disaster data can attract more risk capital.
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The pool services a number of public authorities in California.
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Severe convective storms accounted for 41% of last year’s insured loss load.
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The estimate has reduced slightly since the modeler’s last update in October.
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Sources said that the new paper is replacing PartnerRe capacity that was backing the MGA.
