Insight and Intelligence on the London & International Insurance Markets 19 Feb 2018
PCS Irma number yo-yos as creep returns
- 7 February 2018
PCS raised its loss number for Hurricane Irma to $17.2bn in a 30 January update, two months after lowering its initial figure by $3.0bn to $15.0bn.
According to a JLT Re market update seen by The Insurance Insider, the latest estimate excludes the impact of loss adjustment expenses (LAE) of $1.55bn.
The increase means the firm's cumulative insured loss number for hurricane and wildfire claims now stands at $68bn, with 2017 claims from all cat perils in the US totalling...
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