-
WorldCover, a climate insurance provider to smallholder farmers, has raised $6mn from a fundraising round led by MS&AD ventures.
-
The insurer has increased its ultimate net loss for the 2017 storm by 7 percent.
-
The insurer’s cat losses for the first quarter totalled EUR195mn.
-
The ILS fund manager said the rationale behind model updates will be followed closely.
-
The reinsurer’s Corporate Solutions division posted a $55mn loss for the period.
-
Tornadoes this week have brought high winds, hail and flash flooding to the area.
-
Arch’s reinsurance underwriting income for the first quarter of this year plummeted by 61.9 percent to $20.9mn.
-
The biggest hit to the insurer were US winter-related storms, at $191mn.
-
The floods struck Queensland between 26 January and 10 February, leaving hundreds of homes underwater.
-
The update means Michael is the first hurricane to make landfall in the US since Andrew in 1992.
-
Fema’s David Maurstad confirmed there is low take up of the NFIP in the region.
-
The event is the costliest for insurers in an otherwise benign 2018-19 European winter storm season.