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The US sports disability market has been dubbed the “problem child” due to its volatility. -
The carrier has paid $1.75bn on around 9,500 claims filed from the wildfires.
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The carrier expects the market loss to land at $35bn-$40bn.
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The transactional liability class faces a string of potential losses, especially in the contingent segment.
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The carrier pegged its claims expenditure for the LA wildfires at EUR1.2bn.
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The appeals court has ruled that composite policies provide multiple limits.
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Cedants could choose to retain more as cross-share sell-offs boost their capital.
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The conglomerate reported after-tax cat losses of $1.2bn related to Hurricanes Helene and Milton in 2024.
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Plus, the latest people moves and all the top news of the week.
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Retention levels for reinsurance fell across the different geographies the carrier operates in.
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The ratings agency has revised Mercury’s outlook from stable to negative.
