-
The storm made landfall in Queensland, Australia at the beginning of March. -
SCS losses were also above average in Q1 due to “lingering” La Niña conditions.
-
Insured losses were the second highest on record for the first quarter.
-
The firm now reports on insurance exposures to natural perils for 21 countries.
-
The industry loss data provider also increased its estimate for Hurricane Helene to $15.3bn.
-
The worsening of extreme weather is becoming a global problem, presenting data challenges.
-
Storms in the UK and Ireland drove losses in the commercial segment.
-
Despite wildfires, reinsurers are “well positioned to maintain strong profitability in 2025”.
-
The prediction comes after a highly active hurricane season in 2024.
-
The combined ratio improved by 1.9 points to 94.7%.
-
Losses stemmed from ex-Tropical Cyclone Alfred and North Queensland flooding.
-
The carrier has received 12,300 claims as of 28 March.
