Reinsurance

The storm, currently 285 miles south of Charleston, is expected to make landfall as a hurricane on Friday.

As it became clearer that the Fort Myers area was facing 150 mph winds, sources started to talk about loss estimates with a $30bn floor.

The storm has sped up considerably over the past six hours.

The deal follows a decision to withdraw from some direct Irish business.

Research by sister title Inside P&C shows the top three homeowners carrier exposures by county for forecast highest impact areas.

The dangerous storm is now projected to make landfall between Sarasota and Port Charlotte, Florida.

If transacted successfully and in full, a deal for the state-backed icare could be the largest-ever single legacy transaction in terms of volume of liabilities.

New flexibility will enable top-performing syndicates to raise cat exposures under the Lloyd’s LCM 5 framework, without a penal increase in the required capital.

Chief of markets Patrick Tiernan said the Corporation will also launch a disaster scenario exercise with the market, looking at China, Taiwan and the US.

The storm is not expected to be a threat to the order of Jebi or Hagibis.

Inflation will define priorities such as a focus on safeguarding clauses and pricing transparency, as well as line of business challenges, for underwriters and actuaries in the year ahead.

This publication’s review of H1 disclosures shows how listed (re)insurers’ nat cat losses have tallied with aggregate projections.