Hurricane
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Tropical Storm Risk said this year could be a hyper-active season as it joined Colorado State University in lifting its outlook.
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Sources say initial modelled loss data converges on another sub-$1bn loss with wider variations than over earlier 2020 storms. -
Reports of flooding in eastern US states as millions were left without power.
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The storm is producing tornadoes on its way up the US east coast.
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An expanding book of primary business and the elimination of quota share agreements helped boost profits.
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Some managers also had to increase prior-year reserves, Eurekahedge ILS Advisers said, but June returns still came in stronger than historical levels.
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The NHC has warned of heavy rainfall, storm surges and flooding as the storm moves northeast.
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Parts of South and North Carolina are under hurricane warning but the storm is expected to bypass the city of Charleston.
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Financial hub Shanghai has been placed on yellow alert.
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The storm is now expected to make landfall in the Carolinas late Monday.
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With the fundraising season approaching, tensions are rising over several points of dispute.
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Coronavirus is just one factor driving rate increases, (re)insurers said.
