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Insured losses were the second highest on record for the first quarter. -
The firm now reports on insurance exposures to natural perils for 21 countries.
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The industry loss data provider also increased its estimate for Hurricane Helene to $15.3bn.
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The worsening of extreme weather is becoming a global problem, presenting data challenges.
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Storms in the UK and Ireland drove losses in the commercial segment.
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Despite wildfires, reinsurers are “well positioned to maintain strong profitability in 2025”.
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The prediction comes after a highly active hurricane season in 2024.
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The combined ratio improved by 1.9 points to 94.7%.
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Losses stemmed from ex-Tropical Cyclone Alfred and North Queensland flooding.
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The carrier has received 12,300 claims as of 28 March.
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Analysts see Conduit’s extra reinsurance buying as a positive development.
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The event has caused widespread damage in Bangkok, Thailand.
