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US landfalling activity is forecast to be slightly more above-norm than thought -
Weather losses continued to take a relatively high toll amid a mixed picture for prior-year reserving levels.
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Pacific Gas & Electric Company has been ordered to explain its potential role in starting the blaze.
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Provinzial announced a EUR761.3mn loss, while Deutsche Rück’s costs could stretch to EUR230mn.
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Hannover Re has estimated that the floods could end up costing the industry as much as EUR7.5bn.
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The Florida insurer’s combined ratio rose to an unprofitable 105.2% on higher weather losses and an increase in ceded premium.
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The National Oceanic and Atmospheric Administration's climate prediction center has forecast 15-21 named storms for the hurricane season.
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The broker estimated spreads fell by 15%-20% year on year to return to 2018 levels.
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Moody’s expects RMS, which had about $320mn in revenue around $55mn in operating income last year, to become accretive to earnings by 2025.
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The insurer will recoup $253mn from the Sanders Re aggregate bond, up 30% from the Q1 level forecast, but traditional treaty recoveries have fallen significantly.
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The insurer kept prior-year reserves for Irma stable and said its “transition” plan was underway.
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Executive board chairman Jean-Jacques Henchoz said earnings for H1 were up to pre-pandemic levels.
