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November hailstorms and current storms and bushfires racked up claims. -
What is the strategic thinking behind The Fidelis Partnership’s unique business model?
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The event is the second billion-dollar SCS event to hit the country within a month.
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The influx of capital, combined with a quiet wind season, led to favorable conditions for cedants during 1.1 renewals.
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Price has become a key differentiator in marine and energy.
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Cedants pursued property renewals “aggressively” amid excess reinsurer capacity.
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Los Angeles wildfires and SCS pushed US losses to $89bn.
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The storm outbreak follows similar events in the area in 2020 and 2023.
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The outlook flags “large uncertainties” amid possible El Niño through summer 2026.
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The highest portion of losses was experienced in Alberta.
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An “extraordinary” proportion of storms reached Category 5 status this year.
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The peril has been historically difficult to model compared to others.
