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The updated total of A$958mn ($675mn) includes additional property and motor damages.
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The developing world specialist insurer is looking for input from ILS funds and reinsurers.
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The climate-focused InsurTech has raised $4.2mn and signed up insurance backing from the ILS manager and Munich Re.
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The Texas state-backed carrier secured $2.1bn in cover for the 2020-21 hurricane season for $107.5mn above the $93.1mn budget. -
Insurers need to “be ahead of the game” on rate increases, company officials told Trading Risk.
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Upcoming deadline on Irma claims could bring an influx of new cases, the company said.
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The Association of Insurance Companies in Lebanon estimates economic losses of up to $10bn, with about 30% insured.
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Loss estimates outstrip early expectations.
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Warren Buffett’s reinsurance business fell to a $1.1bn loss as Covid-19 and prior-year casualty losses hit the result.
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The broker highlights industrial and commercial buildings as the likely source of international property market exposure.
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Losses could extend to BI, D&F, political violence and trade credit insurance, sources said.
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The Australian carrier is also drawing down on other aggregate covers.
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