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Hurricane warnings are in place for Guantanamo, Holguin and Las Tunas. -
Economic losses from the Cat 5 storm could run 30%-250% of the country’s GDP.
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A US landfall is not expected, but the storm could hit the Bahamas by Friday.
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The storm could bring flooding to Jamaica, Cuba and Haiti.
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The executive is charged with defrauding investors out of nearly $500mn.
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While rates have “definitely come down,” they were coming off a high base, Rachel Turk said.
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Nine-month insured losses still exceeded $100bn due to California wildfires.
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Mory Katz joined the broker earlier this year.
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Guy Carpenter will rebrand as Marsh Re, as a new central tech/operations unit is created.
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The funds will combine credit and ILS holdings.
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It is understood around $1bn of premiums could be ceded to the proposed vehicle.
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The hire comes as Guy Carpenter fills the void created by the Willis Re raid earlier this year.
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Equivalent to a Category 5 hurricane, Ragasa is the world's strongest storm this year.
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The major storm is set to move on to mainland China later in the week.
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The economic loss from the event was around EUR7.6bn.
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The measures also seek to encourage greater wildfire mitigation efforts.
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Reinsurer executives during a Aon reinsurer panel stressed that the industry worked hard on setting the right structure.
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The volume of property cat aggregates placed grew 50% in 2025.
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Syndicate 1440 was approved to assume business incepting January 2026.
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The data modeling firm said losses previously averaged $132bn annually.
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After the LA wildfires in Q1, carriers got some relief in Q2 ahead of wind season.
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The group claims the White House is undermining disaster preparedness.
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The Bermudian firm has an active ILS division, unlike the Japanese conglomerate’s insurance divisions.
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The company plans to launch in New York and New Jersey next year.
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American Integrity grew GWP by 30% to $287mn and Slide GWP was up 25% to $435mn in Q2.
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The estimate covers property and vehicle claims.
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Both organisations still predict an above-average hurricane season.
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Around 95% of the Hiscox Re & ILS portfolio is rated rate “adequate” or better.
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California wildfires account for $40bn of the insured loss tally in H1.
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The company also purchased $15mn of SCS parametric coverage.
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The reinsurance CoR fell 2.3 points to 79.5% while the primary CoR rose 4.7 points to 98.7%.
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Scor's CEO said the P&C market had experienced a “competitive” first half.
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Nationwide will delegate management of the policies to Ryan Specialty.
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The broker has noted that double-digit reductions are increasingly available in property.
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Millions are evacuating after one of the strongest earthquakes in modern history.
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This brings the carrier’s total limit on the program to $1.8bn.
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