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North Carolina insurance regulators said that 11,457 claims have been filed with the National Flood Insurance Program (NFIP). -
The Category 4 storm could leave up to $12bn in insured losses, analysts said.
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Tropical Storm Gordon made landfall on Tuesday pounding states along the US Gulf Coast with wind, rain and surge waves.
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The broker is launching the platform in New York to connect holders of long-tail insurance risk with capital market investors, sister publication The Insurance Insider has reported.
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It affirmed the carrier’s A financial strength rating.
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The Alleghany subsidiary has acquired rights to an $800mn portfolio from the company.
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Net premiums written by US reinsurers surged by a third year-on-year to $30.1bn in the first half of 2018, figures from the Reinsurance Association of America (RAA) show.
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Reinsurance chief underwriting officer Emil Issavi has been named as the new CEO of the unit.
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The vote keeps the programme operating through the hurricane season.
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The sidecar grew as the (re)insurer reported a 29 percent surge in gross written premium for the quarter.
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The investment was lowered after Enstar and private equity giant Madison Dearborn agreed to put $350mn into the deal.
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The NFIP faced a much heavier loss toll from Hurricane Harvey, with claims from this storm quickly surpassing $4bn by November last year.
