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This week the team looks at the final throes of lawsuit activity connected to Irma claims and new entries into the A&H sector. -
Assignment-of-benefit claims spiked in June from the prior month.
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The losses were driven by severe weather events in Florida, Texas and Louisiana.
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Catastrophe losses will account for 65 percent of quarterly losses, the company estimates.
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The Florida Retirement System's ILS allocations reached $740mn at the end of last year and the body will consider scaling up further in 2021.
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The claims emanate from 14 weather events and amount to $12.8mn on an after-tax basis.
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The rating could fall if the company fails to meet deadlines, the agency has warned.
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Twelve Capital's Urs Ramseier says the potential for more distressed opportunities to appear will depend on the extent to which carriers pass on increased reinsurance costs to policyholders
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The moves follow last month’s announcement that R Daniel Peed would become CEO following John Forney’s departure.
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The ratings agency expects the residual market to grow as private carriers are under pressure.
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The figure was net of reinsurance recoveries and connected to 15 events in the quarter.
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The Florida Senator says tackling legal fees is a priority as demand for reform grows – but it will take time to implement.
