-
The shuttering of Munich Re Ventures reflected a focus on the reinsurer’s “core offering”. -
The (re)insurer has a higher-than-average Jamaican market share.
-
The largest net individual loss was January’s California wildfires at EUR615mn.
-
Insurance penetration varies, but hotels have “near-total” coverage and strong limits.
-
The storm devastated Jamaica and Cuba, but insurance penetration on the islands is low.
-
Widespread underinsurance and low exposures will limit losses.
-
Since 2007, the Caribbean country has received $100.9mn in payments from the CCRIF.
-
Many commercial risks will have London coverage, but insured values are relatively low.
-
Hurricane warnings are in place for Guantanamo, Holguin and Las Tunas.
-
Economic losses from the Cat 5 storm could run 30%-250% of the country’s GDP.
-
Central pressure of 900mb or below would trigger a full loss of the $150mn deal.
-
A US landfall is not expected, but the storm could hit the Bahamas by Friday.
Most Recent
