Hurricane
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New Orleans may fall outside the strongest winds but the storm's possible track has drawn closer to the urban centre. -
Hurricanes Isaias and Sally were "full retention events" and the firm took 2,000 new Irma cat claims in Q3, the company said.
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The storm has gained strength after earlier forecasts put it at a Cat 1 landfall strike.
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RenRe suffered nearly $322mn in net catastrophe losses in the third quarter, with a further $100.6mn going to third-party investors.
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Universal’s combined ratio deteriorated by 37 points to 134.7%, driven by Laura and Sally losses.
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The storm is predicted to hit “at or near” hurricane strength before continuing northwest.
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The calls will provide a barometer of claims activity on historic storms Irma and Michael as well as recent Hurricane Sally.
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Forecasts point to landfall on the Louisiana/Mississippi border, bringing rain and possible flash flooding.
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The storm is forecast to bring heavy rainfall and possible flash flooding when it arrives in the US early on Wednesday morning local time.
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Repeated pelting from smaller cat losses presents a host of challenges for carriers.
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The tally surpassed its $16mn retention, but this was the first hurricane of 2020 for which it pre-announced a loss.
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The carrier expects “significant” operating income and “positive” net operating income for Q3.
