Swiss Re

According to market sources, the $2.5bn in losses mostly falls with homeowners’ insurance, which accounts for 62 percent of that figure.

The typhoon is said to have hit third layers of some occurrence covers.

HazeShield covers businesses in Singapore from loss of income and reduced trade caused by haze events.

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.

Jean-Jacques Henchoz, who was previously in change of the EMEA region of Swiss Re, has been named as the German (re)insurer’s new chief executive officer.

The Swedish insurers’ association Svensk Forsakring has estimated the fires that swept through Swedish forests from May to July will lead to insured losses of SEK800mn ($87mn).

RenaissanceRe kept its stake in the $1bn reinsurance programme stable at $262.5mn while Swiss Re increased its line by $10mn this year to $185mn.

Insured losses from natural catastrophes fell 28 percent year on year in H1 2018 to $18bn, according to Swiss Re’s Sigma report.

The ratings agency says insurers may need to pursue loss-reduction strategies, with 2018 possibly on track to produce more claims than 2017.

A solid underwriting performance boosted the result amid a benign large loss environment.

The reinsurer said it believed the flood partnership could be replicated throughout the US.

Jay Green moves back to Guy Carpenter’s capital markets division as it expands the ILS team.