Reinsurance
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Reinsurers, commercial and specialty carriers stocks edge down after Hurricane Ida, in line with dip in S&P Insurance Index.
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Experts fear for survivors, who now face an intense heatwave and up to a month without electricity.
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Plus a look at reinsurers’ cat budgets and all the top news from the week.
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Most of the damage occurred in Mexico as the country weathered an estimated $300mn of losses.
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The risk modeller said Henri’s weakening before landfall spared the northeast US from the damage originally forecast.
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The modeller said 70% of losses will come from Germany and a quarter from Belgium.
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The earthquake that hit the island’s southwest peninsula on 14 August is estimated to have caused $1.7bn of total losses, according to the firm’s Caribbean earthquake reference model.
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The PRA has proposed that where non-life legacy transfer deals involve a carrier in run-off, the acquirer may have to go through a Section 166 review under certain circumstances.
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Overall figure was driven by a deep winter freeze, hailstorms and wildfires and marked the second highest first-half figure behind 2011.
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Tropical Storm Fred could also hit Florida on Friday, but it is too early to predict the exact, time and magnitude of its impact.
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So far, damage costs caused by the California fire are thought to be below $1bn.
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Wolf will remain with the company to assist Gregory during a transition period lasting until September 30.
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