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This came as the market’s underwriting profit dipped 10% for 2024. -
Almost 300,000 people have been left without power from the storm.
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This loss number covers the property line of business.
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There is the potential for cat bond H1 issuance to be a record breaking six months.
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As of 14 February, the company received 405 claims.
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The London D&F market will shoulder most of the losses.
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The reinsurer pegged the market loss at $40bn.
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Dispersion of returns was high, with the range 0.87% to -3.71%.
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The programme structure was expanded, but it is unclear what percentage was placed.
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The cost of reinstatement was included in $170mn wildfire net loss figure.
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Climate change and other loss impacts were not adequately incorporated, sources said.
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ILS is delivering “a growing contribution” to the group, according to CEO Cloutier.
