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The East Troublesome and Cameron Peak fires are two of the largest blazes in the state, with fears they could merge. -
The carrier expects “significant” operating income and “positive” net operating income for Q3.
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The US property carrier remains exposed to severe weather losses, the agency said.
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The Bermudian is expecting to pay $17mn in third quarter Covid-19 claims.
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The service provides a higher level take on ex-US loss data than the Perils index
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Mohit Pande says insurers’ models are failing to take into account the impact of Atlantic Multidecadal Oscillation on storm frequency.
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“Non-Covid” claims in the quarter also came in above average, with the Beirut blast its largest man-made loss.
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Quarterly losses were led by the Midwest derecho, Hurricane Isaias and the Glass Fire.
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Hurricane Delta triggered the carrier’s aggregate reinsurance programme.
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CEO Michael Pickel says Covid-19-related losses and the low interest rate environment have made price increases “absolutely essential”.
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The European reinsurance chief says interest rates and loss experience drive the carrier’s hardening stance.
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Buyers are out early ahead of a challenging renewal, with retro rate hikes set to outpace reinsurance increases.
