Australasia
-
Losses were primarily driven by personal property lines. -
The firm has also updated the loss-calculation engines of existing Jeannie tools.
-
ILS accounted for 2.5% of the pension fund’s total AuM.
-
In April, the loss modeller pegged losses at A$2.57bn.
-
Almost 50,000 people have been forced to evacuate.
-
Tropical Cyclone Alfred and Queensland flooding brought thousands of claims.
-
The storm made landfall in Queensland, Australia at the beginning of March.
-
Losses stemmed from ex-Tropical Cyclone Alfred and North Queensland flooding.
-
Both carriers have extensive reinsurance coverage.
-
Almost 300,000 people have been left without power from the storm.
-
Modest increases to reinsurance costs were partly offset by the Australia cyclone pool.
-
The carrier said reinsurance was a key component of its “low-volatility strategy”.
