Hurricane
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The investment manager, which is currently in run-off, is also monitoring the impact of Typhoon Hagibis. -
AIG had $550mn of cover for Japanese losses, analysts at Credit Suisse noted.
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The Bermudian reinsurer expects to pay out about $100mn in losses from Faxai and about $55mn for Dorian claims.
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The reinsurer calculated that Dorian contributed $160mn of losses with Faxai adding $120mn.
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The carrier does not anticipate that the losses will trigger its reinsurance programme.
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Hurricane Michael has produced 149,448 claims, according to the Florida Office of Insurance Regulation.
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The provider said the losses were driven by the impact of Hurricane Dorian and Japanese typhoons.
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This year is on track to be above average, according to the risk modelling firm.
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A PCS update on Irma had led to a full loss on two contracts, the fund said in an SEC filing.
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Meanwhile, insured losses from Typhoon Faxai will approach $5bn, according to the September Global Catastrophe Recap.
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Two Rugby World Cup matches scheduled to be played in Japan on Saturday have been cancelled.
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Experts split on how far the mid-year renewals benefitted reinsurers.
