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The start-up has struggled to build scale since its 2024 launch and has cut back its 2026 stamp. -
Hurricane warnings are in place for Guantanamo, Holguin and Las Tunas.
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Economic losses from the Cat 5 storm could run to 30%-250% of the country’s GDP.
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A US landfall is not expected, but the storm could hit the Bahamas by Friday.
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The storm could bring flooding to Jamaica, Cuba and Haiti.
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Nine-month insured losses still exceeded $100bn due to California wildfires.
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The reinsurer stressed it “did not shy” from cat business in 2023.
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Though wildfire losses are up, total losses are the lowest since 2015.
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The governor has yet to sign a pending bill to create a public cat model.
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The insurer of last resort currently has $2.15bn of cat bond protection on risk.
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Jonathan Rinderknecht was arrested Tuesday on destruction of property charges.
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Declared events totalling just under A$2bn ($1.3bn) included one cyclone and two floods.
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Despite a rocky H1, 2025 insured losses from nat cat events may not surpass 2024 levels.
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The ratings agency cited a reduction in exposure to nat cat risk as a reason for the change.
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Winds have strengthened to 80 mph, and the hurricane is expected to intensify further over the next 48 hours.
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According to McKinsey, the projected spending on data centers is expected to hit $6.7tn by 2030.
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The tropical cyclone is expected to be named Imelda.
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Plus, the latest people moves and all the top news of the week.
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Equivalent to a Category 5 hurricane, Ragasa is the world's strongest storm this year.
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Despite formation of Gabrielle, there is "a very high probability" of a below-average season.
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The major storm is set to move on to mainland China later in the week.
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The economic loss from the event was around EUR7.6bn.
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The measures also seek to encourage greater wildfire mitigation efforts.
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Losses were primarily driven by personal property lines.
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Models anticipate a busier second half, particularly in the next few weeks.
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The carrier’s chief buyer urged a partnership approach from reinsurers.
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Supply for property outstrips demand, but the casualty market is “bifurcated”.
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Despite rate reductions accelerating, the sector-wide combined ratio is set to remain below 90% through 2027.
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The ratings agency warned negative PYD on US casualty will likely continue.
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The firm has also updated the loss-calculation engines of existing Jeannie tools.
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The group claims the White House is undermining disaster preparedness.
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The US has been lucky over recent decades to avoid a $100bn insured hurricane event.
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The estimate covers property and vehicle claims.
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Both organisations still predict an above-average hurricane season.
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The carrier cited elevated cat and large-loss activity, including the LA wildfires.
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The forecast has increased since the early July update due to several additional factors.
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