Claims and losses

Purchasing the analytics firm will help Willis meet growing demand for climate change services.

The storm struck a state park area around 135 miles north of Tampa.

Over 10,000 structures have been destroyed in California alone, Aon said.

The business segment, which includes HDI Global Specialty, has already exceeded its full-year large loss budget.

The Hammerfest loss is thought to be ~$500mn and well spread around the market.

The carrier expects its total losses to reach EUR700mn-EUR900mn, as Covid claims reports begin to flow to reinsurers.

The storm battered Central America as a hurricane last week, causing widespread damage and at least 57 deaths.

Forecasters warned that the storm’s course remains relatively uncertain at this stage.

The carrier is approaching the halfway point of its A$950mn natural hazard allowance, four months into its financial year, and has eroded up to 63% of its aggregate reinsurance deductible.

CFO Bouas-Laurent reassures analysts that the cash injection will not harm solvency.

The carrier increases its appetite for catastrophe risk ahead of “substantial” rate increases at 1 January.

Further cat losses could be covered under activated aggregate reinsurance deals protecting IAG and QBE.