Mapfre has warned investors that it may no longer meet its projected return on equity for the year, as it is facing net costs of up to EUR200mn ($236.8mn) from a string of hurricanes and earthquakes.
UPC Insurance said it would take gross losses of between $300mn-$600mn from Hurricanes Harvey and Irma, but would retain a net $83mn of this total after ceding losses to its reinsurers.
Nephila and its fronting partner State National are among the investors in an insurance development forum designed to streamline the launch process for start-ups in the InsurTech space.
The first Hurricane Irma loss estimates released by UPC Insurance and others suggest that the private residential insured loss from the storm could be less than $5bn
