Hurricane
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The Bermudian is adding $10mn-$15mn to its Covid loss estimate as claims climb.
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The reinsurer also cited West Coast wildfires, the August derecho, Hurricane Isaias and Typhoon Maysak as contributing to the total. -
The modelling firm estimated $950mn would come from US losses, with $300mn in Mexico.
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Hurricane Delta looks set to be another mini hurricane loss, but one which may aggravate some existing trends.
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The storm has largely impacted small towns already suffering from Laura damage.
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Storm Delta may feel like a reprieve, but escaping storms gives no upside for investors.
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More than 90% of crude oil production remained offline as of Sunday.
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Bonds had an implied average spread of 6.86%, the lowest quarterly rate since mid-2018.
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Early indications suggest another retained disaster loss for insurers.
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Slow weakening is expected before the storm delivers the Louisiana town of Cameron a second blow after Hurricane Laura.
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The new estimate sits in the middle of the range, following previous figures given by modellers
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The NHC emphasised uncertainty over the intensity outlook for the storm's Gulf Coast landfall.
