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The reinsurer emphasised the need for improved secondary peril models including predictive capabilities. -
The year 2005, which featured the devastating Hurricane Katrina, remains the most expensive storm season.
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2022 was a near-average season in terms of the number of storms, but featured an unusually quiet start in August, followed by two Florida hurricanes, including one of the US’s most expensive.
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Frontier Advisors said sentiment continues to be challenged by performance.
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The pay-out figure has nearly doubled over the last two weeks.
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The Canadian investment fund now owns almost 3.8 million shares of the personal lines insurer, compared to 281,773 in Q2.
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The bond will provide coverage up to 2026, extendable to 2029.
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Initial loss estimates for the last quarter show lower hits to equity than observed after hurricanes Harvey, Irma and Maria five years ago.
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Announcements and interviews at the UN conference have shed light on the tools emerging to help carriers decarbonise their underwriting portfolios.
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The cover is triggered by PCS territory-weighted industry loss and attaches at $12.5bn.
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The increased yield reflects the harder post-Ian market.
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The two insurers are believed to provide in excess of 20% of the cat MGA’s capacity.
