Early Hurricane Irma loss reports from Florida insurers suggested that the overall industry loss total may come in lower than feared, with at least one major carrier sparing reinsurers from sharing claims
Hurricane Maria has compounded fears about how much retro capital could be lost or trapped ahead of the 1 January renewal, when much of the roughly $15bn-$25bn market limit renews
The impact of hurricanes Harvey, Irma and Maria (HIM) means the ILS sector is in line for one of its more complicated 1 January renewals, despite the fact the market's share of losses will be much more contained than it might have been
Analysts have said the recent third quarter catastrophe activity could lead to double-digit rate increases in the reinsurance sector, with the impact being even more profound in the retro market
The National Flood Insurance Program (NFIP) would get a $16bn injection of credit under new disaster relief funding, White House budget director Mick Mulvaney told Congress yesterday.
