Hurricane

Researchers at Colorado State University (CSU) are expecting an above-average hurricane season for 2021, including up to 17 named storms.

The insurer’s surplus fell from $61mn to $22mn during 2020.

Property reinsurance losses were up by 70% year on year, but property insurance business reported a steeper loss.

Covid-19 losses accounted for 60% of the major claims, with the rest attributable to catastrophe events.

The reinsurer finds secondary perils accounted for over 70% of natural catastrophe claims.

The firm said the outcomes differ by peril, region, and climate scenario.

After sizeable increases to take-up in 2019 and 2020, many carriers were already at maximum participation for state Cat Fund coverage.

One primary vehicle delivered a significant loss but many others are likely to have had their best year since 2016.

The models will be available in June initially for North Atlantic hurricane, Europe inland flood and Europe windstorm.

One swallow doesn't make a summer, but what do two retro "cashback" transactions portend for hurricane season?

The Florida-based insurer will pay a 9.25% spread on the deal, 6% below the initial forecast.

Class C investors who entered the retro fund after the 2017 hurricane season made a 1.3% loss for the year, although wildfire subrogation meant a gain for ordinary shares.