-
The figure was significantly down on the prior month’s $544mn, and also came in 39% below the year-ago loss tally.
-
It estimated that 2021 natural peril claims would be significantly more than its allowance.
-
There have already been 6,500 claims from the flooding but it is too early to assess the cost of damage.
-
Outside the US, two Indian cyclones are expected to have caused more than $4.5bn of economic losses.
-
Plus the implications of the X-Press Pearl sinking and all the top news from this week.
-
A bulletin from Hampden shows Names-backed syndicates had estimated a 1.7% hit to 2020 and a 1% hit to 2021.
-
The sinking of the vessel will cause claims across the P&I, hull and cargo markets.
-
Wreck removal, if required, would generate a separate $50mn-$100mn claims bill for the P&I market.
-
A high proportion of the more than $3.5bn economic losses caused by April severe weather will be insured, the broker said.
-
The total cost of repairs could be as much as $490mn, although the ultimate size of the claim remains unclear.
-
Most damage to private and commercial property was covered, but agriculture losses were uninsured.
-
The firm reported an industry-wide loss of $36.8bn caused by the pandemic, up from $29.5bn in Q3.
