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The firm’s senior meteorologist noted activity was in line with expectations on major storms, if not all named storms. -
Theo Norris has joined Gallagher Re as a dedicated cyber ILS broker, moving from his Aon Securities role as acting ILS assistant vice president.
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Maya Bundt referred to cyber security threats as the “dark side” of proliferating digitalisation.
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The executive said there was a strong case for meaningful rate increases in reinsurance.
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The reinsurer aims to become carbon-neutral in operations by 2030, whilst its reinsurance target date is 2050.
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AM Best sees accumulating cyber risk in the US property market downgrading 18 US property carriers, considering Best’s Capital Adequacy Ratio.
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The city’s pension fund recorded a 3% return from its ILS portfolio in 2020.
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The storm has dumped more than nine inches of rain on the city of Houston and risks further damage to Ida-hit properties.
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In its renewal season update, the carrier said Bernd, Ida, Uri and the pandemic would force up pricing across lines and regions.
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The 13th named storm of the season made landfall in the Florida Panhandle on Wednesday.
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It is not so much the size of the hit, as the regularity of moderate cat events that is worrying risk-takers.
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It recognised the debate surrounding the “plausibility” of such scenarios.
