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ARPC said the move improves the pool’s capital strength.
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Aggregate cat bonds and quota shares may be exposed although the loss would typically be expected to skew to the traditional binders and insurance market. -
The ratings agency says it will continue to monitor whether the cat event could affect the rating outlook for any entity.
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The veteran risk modeller says claims will be driven by the combination of anomalous temperatures that are well below average in a region unprepared for such a sudden freeze.
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The nature of the event means that more losses may take time to emerge.
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The reinsurer adds $300mn to the unit’s pandemic reserving in Q4 and slashes premium volumes by 11% at the renewals.
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In a note to clients seen by this publication, the risk modelling firm says the event may break records for insured winter storm losses.
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The carrier also expects to report $23.4mn of reserve strengthening in its results on 25 February.
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The merger may cause price increases or reduced service levels for major insurance buyers.
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The company also lowered the attachment points on its per-occurrence and aggregate property catastrophe treaties after shrinking its portfolio.
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The climate forecaster claims that the underlying assumption may be faulty.
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The EU’s chief insurance supervisor wants capital markets to augment the capacity provided by traditional (re)insurers.
