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The Insurance Council of Australia has estimated A$743mn ($489.6mn) of insured losses from Tropical Cyclone Jasper and the Christmas and New Year storms. -
The broker’s latest climate report tallied global insured cat losses at $118bn.
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He joins from Aeolus Capital, where he spent more than four years as a client portfolio manager.
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As a result of mostly flooding, £467mn of losses occurred in the UK.
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Unfavorable prior year reserve re-estimates, excluding catastrophes, totaled $199mn in Q4, with approximately $148mn related to personal auto, including costs for litigation claims.
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Adrian Jones will report to Acrisure’s president of global insurance Grahame Milwater, a spokesperson for the broker confirmed Tuesday.
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The executive joins the company as it looks to bolster its reinsurance capabilities.
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Participating insurers would be required to provide all-perils property insurance for residential and commercial policyholders.
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More than three-quarters of the losses came from the firm’s UK&I line of business.
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Wind and tornado in the US may already have led to losses in the hundreds of millions, according to Aon’s report.
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The loss estimate includes property damage, contents and BI insurance across residential, commercial and industrial lines.
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The scale of the claim is expected to be just within the expected total weather losses for insurers.
