Insight and Intelligence on the London & International Insurance Markets 19 Feb 2018
AlphaCat takes $78mn of Q4 cat losses
- 6 February 2018
Validus' AlphaCat insurance-linked securities management unit contributed more than half of the group's $120.8mn of fourth quarter losses.
The Bermuda-based (re)insurer, which last month agreed to a $5.56bn takeover by AIG, said AlphaCat took $78mn of the Q4 losses.
Of this total, $67.9mn came from the Northern California wildfires and $13.9mn from the Southern California wildfires, Validus said.
The fourth quarter losses were partially offset by $5.4mn of favourable development on Q3 events.
Validus' share of losses from AlphaCat funds...
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