-
The storm is currently at Cat 4 strength but will weaken to Cat 3 as it approaches land. -
Florida specialists have continued to cede more premium to reinsurers, topping $7bn in 2021.
-
US investments in the ILS and cat bond market are highly concentrated with five companies accounting for 70% of industry investments.
-
How much capacity is available to meet rising cat reinsurance demands was a key theme throughout this year’s Rendez-Vous.
-
The HSCM co-founder said the cat reinsurance market was going through a profound shift that would open ILS opportunities for growth.
-
Earlier loss reports suggested the total costs would be much lower – Perils’ first report estimated losses at A$3.99bn, while its second pegged losses at A$4.89bn.
-
Market sources are suggesting inflation could require a wider group of US cedants to buy $10bn-$20bn of additional cat coverage for 2023.
-
The Scor CEO likened reinsurance market conditions to those seen in large commercial primary lines post-HIM.
-
Moody’s, S&P and Fitch all see current conditions as potentially allowing for ILS growth.
-
Loss creep from Hurricane Ida has led to the loss and an increase in loss reserves.
-
Hurricane Earl is forecast to pass southeast of Bermuda, but tropical-storm-strength winds are predicted to hit the Island on Thursday.
-
She will succeed CFO and EVP Nick Burnet, who will be leaving the company to pursue other opportunities.
