Losses

Despite being Category 1 at landfall, Isaias caused storm surges from South Carolina to New York.

Satellite imagery from the damaged port suggests that several ships including CMA CGM Lyra escaped with minor damage.

The carrier is also honing its focus and redeploying capital under new CEO Amanda Blanc.

Axa estimated its total 2020 impact from Covid-19 for the group at EUR1.5bn, which it booked in the first half.

The carrier cancelled its share buy-back plan in order to reinvest capital into reinsurance growth.

Sources say initial modelled loss data converges on another sub-$1bn loss with wider variations than over earlier 2020 storms.

The London D&F market is expecting minimal exposure, but there is also potential for political violence and trade credit losses, sources said.

The company confirmed it had bought $500mn of additional catastrophe aggregate.

The carrier reported a combined ratio of 106.9% as it absorbed Covid-19 losses mainly from its property book.

The estimate includes privately insured wind and storm surge damage to homes, commercial properties and cars, but not NFIP losses.

The Qatar-based group reported a loss of about $54.5mn as the underwriting performance of its international carriers deteriorated.

Rainfall in some areas could lead to flooding and landslides.