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Tetlow left Hiscox in December 2018 after 13 years in Bermuda.
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The loss estimate excludes environmental damage, with some market sources predicting insured losses could total up to $50mn. -
Sanders II ILS structure offers additional $300mn of aggregate limit available to Allstate
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Arch’s chief executive said that Jebi business interruption exposures fuelled loss creep in the market.
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The Californian carrier is to revise programme after handing $216mn wildfire loss to reinsurers.
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AIG is the lead insurer of the aluminium manufacturer’s cyber policy.
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Carriers have so far paid out $327mn in claims stemming from the disaster.
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The Bermudian increased its industry insured loss estimate at the end of Q1 from $8bn at the end of last year.
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Axis Capital’s disclosure points to losses at AIG that could exceed the $848mn previously predicted from the events, Buckingham Research says.
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Common stock in the Reinsurance Opportunities Fund, which the fund manager has put into run-off, has lost almost half its NAV since inception.
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ILS financing partially offsets the shortfall.
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A large hailstorm in Florida was the main contributor to the catastrophe claims.
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