Claims and losses

The carrier contended with 10 events over the month, with 75% of its losses stemming from three wind events.

In the first quarter of the year, the total global economic loss for all natural hazards was estimated at $77bn.

Aon expects depleted shareholder equity to be restored over time via higher retained earnings and the ‘pull-to-par’ effect of bonds approaching maturity.

The council has appointed Deloitte to examine carriers’ performance during the crisis.

Nationwide Mutual is looking to raise $150mn in $50mn tranches of Class A-1, B-1 and C-1 notes.

On March 31, the National Weather Service counted 618 storm reports and 104 tornado reports, both records for the year to date.

Total economic losses came in well above average, driven by the earthquake in Turkey.

Colorado State University anticipates a “near-average” probability for major hurricanes – Category 3, 4, and 5 – making landfall along the continental US coastline and in the Caribbean.

High tornado activity at the end of the quarter is expected to add to the claims toll.

The asset class is finding favour particularly with allocators that have been watching returns play out over the long-term horizon.

The forecast included two intense hurricanes, six hurricanes and 12 tropical storms.

The newly developed scale will run from AR-1 to AR-5, with AR-5 being the most intense, to mirror measurements of hurricane events.