Reinsurers
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The insurance industry has experienced mounting losses from severe convective storms. -
Premiums ceded to the ILS vehicle increased by 76% to $433mn.
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Island appetite remains stable, but early 2025 loss activity has injected fresh uncertainty.
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The reinsurer had taken the opportunity to buy more limit across event and aggregate covers.
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The largest individual net loss at EUR230mn was caused by Hurricane Milton.
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Almost 300,000 people have been left without power from the storm.
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RAA president Frank Nutter says he hasn’t been able to get an update on the project from the now Trump-led NOAA.
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The programme structure was expanded, but it is unclear what percentage was placed.
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The bond will cover named storms in the state of Florida.
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The cost of reinstatement was included in $170mn wildfire net loss figure.
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The terrorism pool has shifted its programme from facultative to an XoL arrangement.
