Property Insurance Holdings (PIH), the parent company of Texan insurer Maison Insurance Company has reported that its gross catastrophe losses from Hurricane Harvey reached $23mn.
Proposals which would open the US flood market to private insurers are set to appear before the full chamber of the House of Representatives for debate.
A new reinsurance MGA, Chord Re, will begin writing specialty and property business from 1 September after former Aspen Re executive Stefan Long launched the business with backing from MGA incubator Beat Capital and insurer Neon.
The 2017 catastrophe events have highlighted the extent to which ILS managers are benefiting from industry loss warranty (ILW) hedging, but market sources have questioned where the losses will ultimately fall as more clarity is gained over HIM claims in months to come.
