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The year broke a number of records in terms of insured losses.
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The full-limits loss on the placement has raised alarm as a stark example of the impact social inflation in the US is having on claims severity.
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A further £51mn of claims were fully settled in the month to 5 January, per the latest release of data.
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The Swiss bank is trying to recoup money for investors in its supply-chain finance funds.
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Fire season in the US ran slightly later than usual in 2021, but total losses will fall far short of 2017-18 peaks.
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The year saw a substantial uptick in natural disaster losses compared with 2020 and 2019.
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Inflationary pressure and climate change meant the market effectively gave ground to cedants despite nominal price rises.
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A heavy snowfall helped to bring the major conflagration under control.
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The fires are being fanned by winds of up to 115mph around the towns of Superior and Louisville.
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The country’s insurance industry is also contributing to a flood relief fund.
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Extreme flooding combined with hailstorms led to Germany’s worst loss year since records began in 1970.
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Jefferies’ report shows that cat losses have been spread across a broader range of perils and regions this year.
