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The October 2022 event brought heavy rainfall, mainly affecting Victoria.
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Videos and messages posted to social media show widespread devastation caused by the Category 5 hurricane.
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Flights had been suspended into Acapulco after the storm rapidly intensified and made landfall at Category 5 strength.
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By region, convective storms in the US alone accounted for 60% of global insured losses.
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Italy’s largest insurer has booked EUR840mn in cat losses for the nine months to 30 September.
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The carrier continued to experience a significant level of catastrophe losses this year, which resulted in lower year-to-date earnings than expected, according to CFO Frey.
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During the first nine months of 2023, a total of 24 separate billion-dollar weather and climate disasters have been confirmed by the NOAA’s National Centers for Environmental Information.
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If the claim does indeed pay out, it has been suggested it will be the largest in R&W market history.
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Meanwhile, war premiums for calls into Israeli waters are expected to rise substantially from a low base.
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The company’s Las Vegas casinos were hit by a cyberattack last month where employee login details were stolen.
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Wildfires in British Columbia were the largest of 11 catastrophe losses for the insurer.
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Rate changes across the aviation all-risk and war markets remain wildly divergent during the key Q4 renewal period, sources told this publication.