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The storm breaks the record for the earliest seventh named storm of the season.
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Over 200 nat cat events occurred in H1 2020, topping the 20-year average. -
Assignment-of-benefit claims spiked in June from the prior month.
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Claims on 15 cat events impacted the carrier, with most losses related to April.
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Hailstorms across the Midwestern US will likely add to substantial losses this year.
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Damage to property and automobiles stretches across five states, the agency said.
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The Monetary Authority is also exploring initiatives to support pandemic, cyber and climate ILS, an official says.
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The claims emanate from 14 weather events and amount to $12.8mn on an after-tax basis.
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Several US states were hit by tornadoes, heavy rainfall and large hail in July.
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Bushfire losses make up just over 40 percent of the total claims bill.
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The Calgary hailstorm in mid-June could become the fourth-costliest nat cat event in Canadian history.
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The research team increased its estimate for named storms in 2020 from 19 to 20.
