September 2017/3

Hong Kong-based reinsurance start-up Nine Merchants Re is in active conversations with investors with funds outside China after encountering obstacles following a clampdown on domestic capital outflows, according to market sources.

British Airways (BA) is pursuing its property insurers for a sizable business interruption (BI) claim after suffering a global system failure in May, The Insurance Insider understands.

Industry insured loss estimates for Hurricane Irma narrowed to no more than $50bn, including up to $15bn in Caribbean islands that took a direct hit from the Category 5 storm before it weakened as it struck Florida's southwest coast and headed inland last week.

The reliability of modelled hurricane estimates for Irma and Harvey is coming under scrutiny as insurers begin to assess the cost of the two events.

Lloyd's syndicates have started to receive claims from insureds in the Caribbean following Hurricane Irma, with early indications suggesting substantial losses that will also hit the continental reinsurers hard.

Projections from provisional gross loss estimates from listed Floridian insurers Federated National and Homeowners Choice (HCI) point to a $6.1bn privately insured homeowners' loss from Hurricane Irma in the state, analysis from The Insurance Insider shows.

The London binders market is braced for a round of losses from Hurricane Irma, even as it continues efforts to untangle the consequences of Harvey in Texas.

It seems paradoxical that I should be writing to tell you of the demise of our monthly print edition.

Early optimism around the effect of Hurricane Irma on rates is quickly receding as more data points emerge which suggest that even combined with Hurricane Harvey the storm will have only a manageable impact on capital levels.