Major losses
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Early evidence is leading the (re)insurance market to hope the storm can avoid the development curve of its 2017 predecessor Hurricane Irma. -
The firm recorded a $282mn reserve charge in the quarter, of which $180mn was related to an increase in personal auto claim frequency attributable to prior accident years.
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Inside P&C’s morning summary of the key stories to get you up to speed fast.
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The intermediary tallied $360bn in economic losses worldwide.
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The Elliott losses were offset by less severe storms and favorable loss reserve development on previous catastrophe events, primarily ones that occurred in 2022.
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Inside P&C’s morning summary of the key stories to get you up to speed fast.
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The loss aggregator pegged the loss figure at A$791mn in its initial claim estimate.
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The broker found that the insured-loss figure for 2022 was nearly 60% higher than the annual average over the 21st century.
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Total economic losses are likely to be between $5bn and $7bn.
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Inside P&C’s morning summary of the key stories to get you up to speed fast.
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In its preliminary Q4 earnings announcement, the carrier estimated a combined ratio of 94.7% for the quarter.
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Inside P&C’s news team runs you through the key highlights of the week.
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