-
The carrier is likely to book a Q3 net loss of $500mn for the storm.
-
The analysts said market pricing indicators suggested a hard market was going to set in, requiring increases of 20%-30%.
-
The federal flood insurance program’s claims count has stepped up from 25,000 a fortnight ago.
-
The states of Victoria, New South Wales and Northern Tasmania have all been struck by floods.
-
Major questions confront the industry after Hurricane Ian, but no matter the answers, certain outcomes are inevitable.
-
The state-backed insurer's claims tally was just over 47,000 this morning.
-
The carrier is the latest in a string of primary insurers to provide loss estimates.
-
The carrier’s property business retained $175mn of losses net of reinsurance related to the Hurricane.
-
So far, the company has received nearly 12,000 claims associated with the storm.
-
The insurer has received roughly 19,000 claims to date and estimates it will receive 27,000 to 30,000 claims.
-
The reinsurer said it will look to double rates and retentions and halve the amount of override on casualty quota shares.
-
The company estimates its overall gross loss to be approximately $1bn, below its $3bn overall reinsurance tower.