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The unlimited sideways exposure in the all-risks market has the potential to make the Ukraine-Russia situation even graver for the aviation market. -
The study says a more La Niña-like environment has driven the trend.
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The Lloyd’s CEO's statement was echoed by CFO Burkhard Keese, who said the losses would be “manageable.”
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Axa has been granted permission to appeal certain aspects of the ruling of a case successfully brought against it by Wolseley owner Corbin & King over Covid-19 BI cover.
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Damage from windstorms that swept across the central and eastern United States from 21 to 23 March could cause hundreds of millions of dollars in economic and insured losses, according to the Aon Impact Forecasting weekly cat report.
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Of that roughly $400mn to $820mn can be attributed to commercial and industrial properties, according to Verisk.
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Property losses contributed 88% of the total industry loss total, while 12% were due to motor lines of business.
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The insurer predicts there will be some release from its provision, but it will happen over time and is subject to court proceedings.
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Excess layers of the Marsh-brokered stock throughput policy are led by QBE and spread around the London market.
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BMS’s Andrew Siffert said losses from US winter-related storms and thunderstorms are likely to arrive at a below-average figure for Q1.
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The earthquake on Wednesday night caused power cuts for more than 2.2 million homes.
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The $500mn of new demand from Allstate highlights carrier need for cover after Ida, but pulling together cat capacity in the peak US market remains a tougher ask.
