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SCS insured losses accounted for 48% of all global losses last year. -
Increased vegetation could spell trouble in the future.
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The ICA has escalated its ‘significant event’ declaration to ‘insurance catastrophe’.
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The broker has analysed the differences in wildfire risk between Northern and Southern California.
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The LA wildfires resulted in the largest insured loss of the year, at $40bn.
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November hailstorms and current storms and bushfires racked up claims.
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What is the strategic thinking behind The Fidelis Partnership’s unique business model?
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The event is the second billion-dollar SCS event to hit the country within a month.
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The influx of capital, combined with a quiet wind season, led to favorable conditions for cedants during 1.1 renewals.
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Price has become a key differentiator in marine and energy.
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Cedants pursued property renewals “aggressively” amid excess reinsurer capacity.
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Los Angeles wildfires and SCS pushed US losses to $89bn.
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The storm outbreak follows similar events in the area in 2020 and 2023.
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The outlook flags “large uncertainties” amid possible El Niño through summer 2026.
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The highest portion of losses was experienced in Alberta.
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An “extraordinary” proportion of storms reached Category 5 status this year.
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The peril has been historically difficult to model compared to others.
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After a challenging period, the industry is now earning above its cost of capital.
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The shuttering of Munich Re Ventures reflected a focus on the reinsurer’s “core offering”.
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The (re)insurer has a higher-than-average Jamaican market share.
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The Marsh-placed account renews its all-risks cover on 16 November.
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Widespread underinsurance and low exposures will limit losses.
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While attritional losses were up for the quarter, those in the carrier’s core business declined.
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Many commercial risks will have London coverage, but insured values are relatively low.
