Insight and Intelligence on (Re)insurance Convergence with the Capital Markets

19 May 2012

PCS Irene losses leave ILWs clear

13 October 2011

Loss compilation agency Property Claims Services (PCS) has placed insured losses from Hurricane Irene at $3.65bn, Trading Risk understands.

The PCS estimate reinforces predictions from other agencies that (re)insurers will face relatively low losses for a landfalling US hurricane, with most of the costs retained by primary insurers.
PCS declined to comment.

It also means that $5bn industry loss warranties (ILW) that provide US third-event cover - which are now on risk after tornado losses qualified as the first two...

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