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Aon’s Impact Forecasting put total insured losses across various events including Hurricane Eta at $1.2bn or more.
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Both storms had landed in the country as category 4 storms within a two-week period.
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The court finds no “justifiable doubts” around the arbitrator’s impartiality after the US oilfield services company alleged bias. -
The insurance regulator suggests Solvency II reforms should include a provision to ban shareholder handouts in times of crisis.
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The event is the most costly wildfire loss to hit New Zealand in recent times.
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The pact over Canterbury earthquake payouts stretching back almost a decade will generate a NZ$9.5mn write-off for the carrier.
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The insurer was ordered to pay out for policies by the Western Cape High Court earlier this week.
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The carrier cut back net written premiums in its overseas operations by 12.3% following restructuring at MS Amlin.
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The insurer said that stripping out the effects of Covid-19 from counterfactuals would over-indemnify policyholders.
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The latest annual estimate was 4% higher than in 2019 and up 11% since 2018.
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Its present track would see Iota become the third tropical storm to land in Nicaragua this month.
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The broker says ample free reserves are available to defer premium rises.
