Stocks
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Hurricane Florence may cost (re)insurers between $4.5bn-$4.8bn, according to an estimate from Credit Suisse Insurance Linked Strategies. -
Munich Re and Swiss Re as well as Lloyd’s insurers are among the top reinsurers of the leading insurers in North Carolina and South Carolina.
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JLT CEO Dominic Burke said acquirer MMC valued the entrepreneurial culture at the firm.
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The Florida-based insurer estimates it will take just $4mn of gross losses from the storm.
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Moving a step away from short-tail risks could be on the agenda after the insurer's takeover of the ILS giant.
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Mangkhut has weakened to a tropical storm having pummelled Hong Kong and the Philippines on the weekend.
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Buckingham Research analyst Amit Kumar said reinsurers would pick up only $1.5bn to $2.0bn of claims from a $10bn industry loss for Hurricane Florence.
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CEO Richard Brindle will take over the CUO role.
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A marked-down trade of the $500mn Floodsmart Re 2018-1 cat bond may have been cancelled.
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North Carolina FB has just under 7% market share in North Carolina, the most among single-staters.
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The analyst estimated the continental (re)insurers are each on course to take 5% of losses from the Category 2 hurricane heading for the Carolinas.
