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Industry overseers such as the BMA are told of their important role in supporting global communities

Estimated total global economic losses are elevated in 2023 to $290 billion in the first three quarters alone

The tropical storm made landfall on Antigua and Barbuda early October and passed near BVI causing heavy rains and flooding in both countries

Worrying research suggests more storms are reaching their maximum intensity near coastal areas

After a record-breaking first six months for the cat bond market, observations at present suggest a busy year-end in reinsurance

AM Best said the company’s balance sheet is strong, it has a neutral business profile and a very strong enterprise risk management

New directions for reinsurers and discussions on reinsurance pricing for the year ahead are key parts of the meetings this week at Rendezvous de Septembre

Many Bermuda reinsurers will be at the Rendez-Vous de Septembre insurance conference in Monaco next week

Estimates are based on publicly available data, including wind station observations, river gauge water level data, web reconnaissance and analysis of aerial imagery

The estimates are based on the high-resolution KCC Caribbean and US Hurricane Reference Models

The report comes just ahead of one of the largest gatherings of insurance and reinsurance executives for the year, the Rendez-Vous de Septembre in Monte Carlo

Authorities on the ground dealing with the event have reported that the fire was 85 per cent contained as of late Monday night