Hurricane

Chubb has transferred $1.09bn of its third quarter losses to its reinsurance and retro partners, it announced in its third quarter results.

Aspen Insurance Holdings has reported Q3 catastrophe losses of $360.3mn pre-tax, following the firm's disclosure that Hurricanes Harvey, Irma and Maria had amounted to $310mn of losses earlier this month.

Munich Re said it should still make a small profit for 2017 after taking EUR3.2bn of major losses in the third quarter.

XL said that its cat bonds were not currently expected to respond to this year's hurricane activity as it ceded 44 percent of its gross losses from Q3 catastrophes to its reinsurance and retro partners.

XL Group's combined ratio for Q3 spiked to 146.9 percent after it took a net $1.48bn catastrophe losses from Hurricanes Harvey, Irma and Maria.

Argo is expected to make significant claims from its $172mn cat bond Loma Re as a result of this year's hurricane activity, Trading Risk understands.

Hurricane Maria is expected to cost Lloyd's insurers $900mn, the corporation said today as it revised down its combined loss estimate for hurricanes Harvey and Irma.

Reinsurers had stockpiled more than $60bn of excess capital ahead of the 2017 hurricane season, JLT Re has estimated.

Major ILS investors PGGM and K2 said they had room to lift their allocations to the sector but were cautious on whether the rates opportunity after hurricanes Harvey, Irma and Maria would justify this move, speaking during an investor panel at the Convergence 2017 event held in Bermuda this week.

Funds managed by Zurich-based ILS manager Twelve Capital have taken a 5 percent shareholding in Florida-based insurer Heritage, according to SEC filings.

Sompo Holdings has pegged net losses from hurricanes Harvey, Irma and Maria and the Mexican quakes at 70bn yen ($621mn)

Hannover Re anticipates a rating correction in 2018 as a result of the string of third quarter catastrophes