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The year saw a substantial uptick in natural disaster losses compared with 2020 and 2019. -
Inflationary pressure and climate change meant the market effectively gave ground to cedants despite nominal price rises.
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A heavy snowfall helped to bring the major conflagration under control.
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The fires are being fanned by winds of up to 115mph around the towns of Superior and Louisville.
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The country’s insurance industry is also contributing to a flood relief fund.
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Extreme flooding combined with hailstorms led to Germany’s worst loss year since records began in 1970.
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Jefferies’ report shows that cat losses have been spread across a broader range of perils and regions this year.
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Plus, the latest executive moves in the sector and all the top news of the week.
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The reinsurance broker’s report comes after KCC put a $3bn insured loss estimate on the 10 December disaster.
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The UK regulator has published its latest monthly claims data on Covid-19-related BI payments.
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The payouts follow the contract that Mapfre signed to pay $984mn to Colombia’s utility EPM.
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The Corporation’s CEO gave an early estimate of the storms’ impact in a year already marked by heavy cat losses.
