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The case is the latest in a steady flow of legal disputes relating to business closures during the pandemic. -
The utility previously bought a $1bn policy from the (re)insurance market.
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The Mexican state-owned oil company has been the source of several large energy claims.
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The state of Texas in particular has experienced an unusual amount of severe weather.
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The economic loss, including damage to public infrastructure, is expected to hit EUR9bn.
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The 7.8 magnitude earthquake struck southern Turkey and northern Syria on 6 February, followed by a series of aftershocks.
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The firm says hail alone is estimated to make up 95% of losses, making it one of the biggest hail losses in history.
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The BI loss is set to stretch into the hundreds of millions of dollars, with some anticipating a $500mn+ loss.
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The $49.4bn number remains below a critical ILW threshold.
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The increase takes the carrier’s total reserves for the conflict to $145.6mn.
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The initiative comes as part of a major package of UK aid to Ukraine.
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Damaging hail and wind hit Texas, Arkansas, Mississippi and Georgia.
