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The storm made landfall on Saturday as a Category 1 hurricane. -
Ernesto’s maximum sustained winds have reached 100 mph.
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Total catastrophe losses stemmed from 20 events and were estimated at $587mn.
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Flights cancelled as typhoon ramps up to Cat 4.
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Sources said Guy Carpenter has promoted Jennifer Paretchan to succeed Mowery.
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The ILS business increased H1 fee income by 13% to $68mn.
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Ernesto is expected to track past Bermuda on Saturday with hurricane conditions.
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Moody’s also predicts losses to the NFIP at less than $300mn.
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The firm predicts 2024 will be a record year for primary issuance.
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The proportion of total fund assets invested in non-life ILS held steady at 0.6%.
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Florian Steiger’s strategy is seeking institutional capital for the Q4 primary issuance season.
