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The weighted average direct financial loss for a Fortune 500 firm was $44mn. -
The current guidance is that Beazley will publish an undiscounted CoR in the low-80s at full year.
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The carrier purchased an additional $150mn of cover.
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The modeller said 3 million homes were without power at its peak.
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The figure is well above the historical average of $39bn for this century.
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Allstate’s total pre-tax cat losses for H1 2024 were $2.85bn versus an estimated $4.39bn in H1 2023.
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Most of the losses occurred in Bavaria and Baden-Wuerttemberg.
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The biggest losses were from wind damage after the storm’s Texas landfall.
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Relentless focus on annual outcomes provides a packaging that doesn’t fit the purpose.
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Uncertainty around the quantum remains due to policy deductible variation.
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The insured loss from Beryl in the US was pegged at $2.7bn.
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Industry losses of $800mn-$1.2bn are expected from Beryl's impact in Texas.
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