Business interruption
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The firm reported record fee income of $128.2mn in 2024, up 26%. -
Novelty premiums will likely fade once investors are more comfortable with the risk.
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The company said $13bn-$22bn will come from wind damage.
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Earlier this week, RMS estimated insured losses for Helene and Milton at $35bn-$55bn.
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The figure does not include NFIP losses.
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Most of the estimated insured losses will be retained by insurers.
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Building better exposure datasets could draw a broader range of investors.
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The carrier estimates the total industry loss for the Microsoft/CrowdStrike outage at around $1bn-$2bn.
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The event could unpack issues around accumulation risk and cloud services.
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The biggest losses were from wind damage after the storm’s Texas landfall.
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CFO Dacey said ILS investors were not extrapolating too much emphasis from strong returns in 2023.
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The Magnitude-7.4 earthquake occurred early on 3 April.
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Revenue, country and industry sector drive modelled output divergence.
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The carriers were in arbitration with UnipolRe and Gen Re.
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More than three-quarters of local exposure is ceded to highly rated reinsurers through excess of loss protection, according to the rating agency.
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In a presentation before Florida lawmakers, Cerio noted recent success in Citizens’ efforts to move policyholders to private insurers and reduce risk exposure.
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The carrier describes reinsurers’ current strategy of dealing with cyber policies as "a game of whack-a-mole"
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The ILS business ‘continues to be an important differentiator’, says Aspen CEO Mark Cloutier
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A Guy Carpenter report recently noted that risk models are converging for the most remote risk levels.
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Softening cat bond rates are among the bearish signals for cat rates, but latent new demand and still-cautious supply should prolong reinsurer gains.
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The insurer’s expected full-year combined ratio is 94% and constant currency GWP growth 10%.
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The modeller also said that losses to the National Flood Insurance Program will likely remain under $300mn.
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Lower-attaching Florida ILWs had been more in demand at this year’s mid-year renewals.
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The broker said climate, conflict and capital concerns will keep driving up reinsurance rates but suggested new capital may be attracted to the market.
