California
-
Models will need to steepen the curve in the tail to reflect severe event frequency. -
The figure does not include specie or auto losses.
-
Secondary pricing on the carrier’s Topanga Re bond partly recovered following the guidance.
-
The carrier also has a $500mn excess $2.4bn aggregate protection.
-
The company received over 10,100 home and auto claims as of January 27.
-
Guy Carpenter said personal lines exposure would account for 85% of the aggregate loss.
-
Fitch said 1Q wildfire losses could add 6% to 10% to Mercury’s CoR.
-
The total includes fire and smoke damage plus living expenses for evacuees.
-
The fire started Wednesday morning and is currently 0% contained.
-
Most carriers paid more in homeowners’ claims than they collected in premiums.
-
Two 2021 worldwide aggregate ILW notes are also among the markdowns.
-
The carrier can claim separately for the Palisades and Eaton fires if necessary.
