-
Insurers have received more than 7,500 claims related to storms across Queensland, New South Wales and Victoria. -
Projected 2024 ILS returns remain historically high, but signs of increased appetite for top-layer cat risk and top-end retro raise questions over how long this will last.
-
The bond, which increased in size by 25% to $125mn, priced at the lower end of the previously guided range.
-
The ICA said the storm has already generated more than 3,800 claims across areas stretching from Cape York Peninsula to Mackay.
-
The insurer confirmed it would be targeting 77% of the original principal amount.
-
The carrier has also lifted the effective coupon to 29.9%.
-
The ICA has activated its preliminary extreme weather processes to assist in assessing the impact of the flood event.
-
New and returning sponsors, diversifying European wind risks and early placement of US hurricane coverage all helped new issuance to smash market expectations.
-
CFO Christoph Jurecka said losses for 2023 were in line with its expectations, but he added that the events producing the losses differed from those of years previous.
-
France “lead the tally by a significant margin”, followed by the UK, Belgium and the Netherlands, Perils said.
-
Global cat-bond capacity has grown by about 4% annually over the last six years, according to a report by the Swiss Re Institute.
-
The Florida Building Code was introduced following the impacts of Hurricane Andrew.
