Property treaty
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Francine has been the eighth Category 2 or larger storm to make landfall in Louisiana since 2000.
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A roundup of the breaking news, C-suite interviews and exclusive insights.
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‘Life-threatening’ storm surge and hurricane-force winds expected for the state, according to the NHC.
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Pricing expectations are still not aligned on higher-risk coverage options.
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The estimate from the Perils-owned company does not include any losses from Hurricane Debby.
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Flooding from the remnants of Hurricane Debby has taken carriers by surprise.
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A hurricane watch is now in effect for the Louisiana coastline.
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The carrier said European cat business needs further price improvement.
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Some Canadian cedants have approached the market for top-up cover.
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CEO Thierry Léger claims the “insurability” of global risk is becoming “challenged”.
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Reinsurers are high on their ‘redemption arc’. The question is – how long will it last?
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The US carrier abandoned the project due to high price expectations.
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In its first six weeks, Taurus has brokered more than £100mn of UK real estate.
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Severe thunderstorms, mainly in the US, accounted for 70% of insured losses globally.
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Everest Re bucked a more general trend to keep cat exposure stable.
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The rise is equal to 5%-10% of catastrophe capacity purchased, including cat bonds, depending on region.
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The property market remains “one of the most favourable... I've seen in my career", he said.
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The underwriter moves to the position from his current role leading property D&F.
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The biggest losses were from wind damage after the storm’s Texas landfall.
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Accounts with poor performance records are expected to see flat to 20% rate increases for cat coverage, according to Floridian broker Brown & Brown’s Q3 Market Trends report.
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Insurers' losses will likely be low and readily absorbed by their earnings.
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The flattish outcome comes after a larger year-on-year hike in January.
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The cost of the FY25 program is expected to be broadly in line with FY24 for the carrier.
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