Hurricane

Friederike, a compact and fast-moving extratropical cyclone, struck four countries in January last year.

The broker said the year’s loss tally was marginally higher than average for the past eight years.

The Florida Office of Insurance Regulation has now tracked more than $5bn of Hurricane Michael claims.

The Californian wildfires, Hurricane Michael and Typhoons Jebi and Trami pushed up losses.

The updated $110mn to $130mn estimate is more than double the prior projected Q4 loss ahead of the wildfires.

Reinsurers are still figuring out just how costly 2018 was in terms of disaster losses – after all, 2018 has only just wrapped up and events such as the Sydney hailstorms lumped on further costs late in the year.

The fund begins reimbursing insurers after industry losses have reached around $7.3bn.

The total fell below the $140bn of insured national catastrophe losses in 2017.

The Florida-based carrier renewed aggregate reinsurance covering non-hurricane losses, including a $30mn single-provider deal and a larger $85mn programme.

Looking ahead to the rest of the year and 2020, how likely is it that the industry will hold to its resolutions?

The Florida-based insurer added around $80mn to its Irma loss estimate.

The ILS Interval Fund had suffered a 4.95 percent loss for the same reporting period last year.