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The quake caused building damage and downed power lines, leaving at least one person dead.
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The reinsurer warns that climate risks could increase average weather-related property cat losses in advanced markets by more than 60%. -
Casinos and ski resorts have shut down, and hotels are housing firefighters in usually buzzing holiday destinations near South Lake Tahoe, California.
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The estimate includes damage to residential, commercial and industrial property and vehicles.
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Experts fear for survivors, who now face an intense heatwave and up to a month without electricity.
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Most of the damage occurred in Mexico as the country weathered an estimated $300mn of losses.
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The risk modeller said Henri’s weakening before landfall spared the northeast US from the damage originally forecast.
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At least 22 people have been killed, with 3,000 power outages reported in Humphreys County as of Monday morning.
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Tropical Storm Fred is likely to form overnight, becoming the sixth named storm of the 2021 hurricane season.
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The company added a new property quota share treaty at June 1, which reduced net written premiums in the quarter by $122mn.
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On a recent Marsh podcast, the executives discussed tradeoffs between parametric and traditional coverage in covering catastrophe risk.
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Bret Ahnell, executive vice president, has been named chief operating officer and will run insurance operations globally.
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