BMS
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Restrengthening to Category 5 is still possible, Siffert warns. -
Insured losses could be less than $1bn if current NHC forecasts are accurate.
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He is succeeded by interim co-CEOs Andrew Wheeler and Russ McGuire.
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Insurance Insider has gathered data on geographical areas prone to cat events, which are outside of southeastern US states, that keep weather experts awake at night.
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The state of Texas in particular has experienced an unusual amount of severe weather.
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High tornado activity at the end of the quarter is expected to add to the claims toll.
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Former retro broker Erik Manning is leading the initiative having joined BMS Re in January.
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In the more extreme of two scenarios, Ian could mimic 1921’s Tarpon Springs hurricane at a cost in the double-digit billions, BMS said.
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The storm is currently moving over the Dominican Republic and headed for Bermuda.
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The expansive broker has also hired Mario Binetti from Everest Re as head of casualty treaty and actuarial.
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BMS’s Andrew Siffert said losses from US winter-related storms and thunderstorms are likely to arrive at a below-average figure for Q1.
