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With sustained windspeeds of more than 60mph, the storm disrupted power supplies and transport lines -
The interconnected challenges of performance and the collateralized structure make it tough to land a strategic pivot.
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Nearly three months on, the event still seems heavily stacked towards residential claims.
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The loss-tracking agency’s claims total for Louisiana rose by roughly $1bn, as losses hitting New York increased by $0.5bn.
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The carriers’ losses stem from a placement covering losses ceded from the Mutual Risk Group, a group insurance arrangement consisting of 19 South African companies.
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Brit has completed a loss portfolio transfer (LPT) agreement with RiverStone International, primarily for legacy years of account for select classes of business written by Syndicate 2987, for liabilities of around $380mn.
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More than £100mn ($134mn) of UK Covid-19 BI claims were settled in full by insurers during the month to 5 November, according to the latest monthly data from the Financial Conduct Authority (FCA).
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The four major European reinsurers reported strongly improved results in the first nine months of 2021, despite the heavy toll of catastrophe claims, according to analysis from Fitch.
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UnipolRe has pulled out of writing property cat excess-of-loss business as it became the first reinsurer to fully exit the class based on the impact of climate change, Insurance Insider can reveal.
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Insured losses from severe weather events in the US are on course to exceed $20bn, following the second highest October tornado tally on record, according to a report from Aon.
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Aggregate reported net losses from Q3 catastrophes across the (re)insurance industry have now passed the $20bn mark, analysis by Insurance Insider shows.
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FedNat transferred $562mn of its $599mn gross catastrophe losses to reinsurers in the third quarter, company executives said on an earnings call.
