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In line with Milton’s moderate forecast loss, the ILS market reaction will be less influential in post-event dynamics. -
The cyclone pool received $479mn in GWP in the year to 30 June 2024.
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The scheme will not be in place for 2025 as government discussions grind to a halt.
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Some reinsurers are considering frequency protection products.
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The broker is discussing the potential for "smart frequency solutions" with reinsurers.
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Aon executive Daniele de Bosini said reinforced infrastructure had mitigated the impact of recent disaster events.
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European property cat rates stabilised and, in some cases, decreased this year following corrections in 2023.
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More public-private partnerships are needed to keep cat risk affordable.
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Continental cedants are looking for support for third and fourth events.
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The company said $13bn-$22bn will come from wind damage.
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The carrier highlighted Italian and French hail events in recent years.
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The estimate includes private cover for residential, commercial and industrial property.
