Hurricane
-
Two major hurricanes are expected this season while the forecast for hurricanes has increased from six to seven to account for Barry.
-
Its parent career restarted writing business in Q2, assuming $1.1mn of premiums.
-
The insurer has “several hundred million” of private reinsurance limit remaining. -
Industry leaders have lifted the expected total loss to a new high.
-
CUO Schmid noted that its catastrophe growth came after it reduced its market share in 2018.
-
CEO John Forney said it was a “tough quarter” for the business.
-
The Floridian insurer also transferred $2.9mn of tornado losses to reinsurers in the quarter.
-
The French reinsurer put the industry loss from the typhoon at $12bn-$15bn as it stated it is covered up to a $22bn market hit.
-
The rate of increase has slowed since the start of the year.
-
The seventh issuance this year takes the annual total to $134.08mn.
-
The ILS unit has reached $1.6bn assets, as Hiscox’s reinsurance group was hit by 2018 loss creep.
-
The RenRe CEO also flagged changes to the firm’s purchased and written retro portfolios in mid-year renewals.
