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Francine has been the eighth Category 2 or larger storm to make landfall in Louisiana since 2000. -
The storm is expected to make landfall in the next several hours.
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An estimated $450mn of losses from Hurricane Beryl will wipe out a surplus Twia had been building since 2017.
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"Life-threatening" storm surge and hurricane-force winds are expected for the state, according to the NHC.
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The estimate from the Perils-owned company does not include any losses from Hurricane Debby.
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A hurricane watch is now in effect for the Louisiana coastline.
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Some Canadian cedants have approached the market for top-up cover.
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Rate increases on primary liability placements range from 10% to 20%.
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Umbrella was the exception, ticking up slightly on the month.
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The US carrier abandoned the project due to high price expectations.
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Included is the full utilization of $25mn available under its cat aggregate treaty.
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The report flagged “opportunistic underwriting” by many of the major markets.
