Business interruption

The carrier last year said its K sidecar would pick up Covid claims over time.

The reinsurer’s net exposure was up 36% as it retained more risk in retro and North American cat.

The firm reported an industry-wide loss of $36.8bn caused by the pandemic, up from $29.5bn in Q3.

Covid-19 losses remained stable as the insurer said rate rises should endure.

Interest in parametric coverages has increased among insurance buyers as a response to coverage gaps exposed by unanticipated losses and tightening traditional market capacity.

Private-public partnerships can provide first-step survival financing if not a full solution for all companies.

The tally so far comes in far below the broker’s year-ago estimate of $80bn for a twelve-month lockdown.

The organisers pledge to return to Monte Carlo in September 2022.

Aon has said it expects the economic cost of physical damage and business interruption caused by the polar vortex-linked cold snap to “well exceed $10bn”, in an Impact Forecasting report released on Thursday.

The firm reported a $100mn drop in ILS AuM to $1.4bn, although previously had said deployable capital was lower.

Some had argued that the definition of occurrence used by judges could make it harder for insurers to aggregate treaty claims.

The carrier revealed 10.9% premium volume growth at 1.1.