Property
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Widespread underinsurance and low exposures will limit losses. -
Many commercial risks will have London coverage, but insured values are relatively low.
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Hurricane warnings are in place for Guantanamo, Holguin and Las Tunas.
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Economic losses from the Cat 5 storm could run 30%-250% of the country’s GDP.
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A US landfall is not expected, but the storm could hit the Bahamas by Friday.
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The storm could bring flooding to Jamaica, Cuba and Haiti.
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The funds will combine credit and ILS holdings.
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The hire comes as Guy Carpenter fills the void created by the Willis Re raid earlier this year.
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Equivalent to a Category 5 hurricane, Ragasa is the world's strongest storm this year.
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Reinsurer executives during a Aon reinsurer panel stressed that the industry worked hard on setting the right structure.
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The volume of property cat aggregates placed grew 50% in 2025.
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Syndicate 1440 was approved to assume business incepting January 2026.
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The data modeling firm said losses previously averaged $132bn annually.
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After the LA wildfires in Q1, carriers got some relief in Q2 ahead of wind season.
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The estimate covers property and vehicle claims.
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Both organisations still predict an above-average hurricane season.
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Around 95% of the Hiscox Re & ILS portfolio is rated rate “adequate” or better.
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California wildfires account for $40bn of the insured loss tally in H1.
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Scor's CEO said the P&C market had experienced a “competitive” first half.
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The broker has noted that double-digit reductions are increasingly available in property.
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Millions are evacuating after one of the strongest earthquakes in modern history.
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Insured losses produced the second highest first-half tally since records began in 1980.
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The carrier reported preliminary profits of EUR2.1bn, driven by “very low” major-loss expenditure in P&C re.
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The losses were below May’s $777mn, but almost 3x higher than for June 2024.
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US events accounted for more than 90% of global insured losses.
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In the US, the index fell 6.7% year on year.
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Despite predicting fewer hurricanes, the numbers are still above average.
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The Diversified Alternative Fund’s allocation to cat bonds was up by 31% from $386mn at 31 January.
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The Australian carrier’s nat cat losses are A$200mn lower than its annual allowance.
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Ex-Tropical Cyclone Alfred has been the costliest event, with A$1.36bn in losses.
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The cost comes in at $530.6bn, roughly $20mn lower than budgeted.
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The loss has decreased by 0.3% since the company’s third assessment.
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Almost 50,000 people have been forced to evacuate.
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Berkshire Hathaway lost market share but remained the largest traditional reinsurer, our study shows.
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The revision is significantly lower than the $4.5bn October estimate.
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California homeowners are also expected to move admitted business to E&S.
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The bond initially sought $425mn across three tranches.
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Six weeks after the storm, Perils released its first industry-loss estimate at EUR619mn.
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January’s California wildfires meant third-party investors suffered a loss of $195.3mn.
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The Floridian company applied to be traded on the NYSE.
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Despite wildfires, reinsurers are “well positioned to maintain strong profitability in 2025”.
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Torrey Pines Re is split among three tranches of notes.
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The cat bond will initially cover named storms in Florida and South Carolina.
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Trouvaille II raised $580mn for 2025, compared to $325mn in 2024.
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Losses stemmed from ex-Tropical Cyclone Alfred and North Queensland flooding.
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The reinsurance broker said total reinsurance market capacity was up 5.3% year over year.
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The cedant’s Namaka Re bond is offering a spread range of 200-250 bps.
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The bond provides coverage for North American storms and earthquakes, as well as European windstorms.
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The pricing is at the top end of the initial guidance range of 550-600bps.
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Most of the industry losses occurred in Austria, the Czech Republic and Poland.
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The business offers parametric windstorm coverage.
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The reinsurer had taken the opportunity to buy more limit across event and aggregate covers.
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The largest individual net loss at EUR230mn was caused by Hurricane Milton.
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Both carriers have extensive reinsurance coverage.
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There are signs that Florida’s insurance industry is coming under increasing legislative scrutiny.
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Almost 300,000 people have been left without power from the storm.
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This loss number covers the property line of business.
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The London D&F market will shoulder most of the losses.
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Eric Paire was head of capital advisory at Aon for nearly seven years.
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The terrorism pool has shifted its programme from facultative to an XoL arrangement.
