Claims and losses

The events a year ago generated the highest Australian flood claims in eight years.

The P&I club called a general increase in October in response to losses.

The new funds raised at 1 January are dedicated to its retro-focused Upsilon fund and its Medici cat bond strategy.

Cumulative ceded incurred losses under the ADC with Nico are now $640mn

A fire to the southwest of the Australian capital is “out of control” and over 21,500 hectares in size.

The Bermuda carrier predicts full-year net profit of about $1bn, in line with forecasts.

Claims made from the 2017 hurricane in December impact its 2017 portfolio.

The ICA will also meet Townsville residents whose flood claims remain open.

The carrier predicts fiscal first-half reserve releases equivalent to 1.3 percent of NEP.

If early reporters Travelers and RLI are reliable cross-industry bellwethers, it looks like significantly lower overall catastrophe losses last year will flatter carriers’ Q4 and 2019 results and offset much of the damage from spiralling casualty claims.

Estimates from Aon, Munich Re, Swiss Re and Willis Re put Typhoon Hagibis lower than the modelled average, with Typhoon Faxai in line with expectations.

The carrier said hailstorm losses would be high enough to meet the trigger on its treaty cover.