A local LatAm insurer client was in 2020 hit hard by two devastating catastrophes – Storms Eta and Iota. Losses included damage to a sugar mill and flooding at an airport in Honduras, and totaled around $50m. ConsiliumRe keeps close track of storm activity in the region, and was aware of the impending events and potentially catastrophic losses this client could suffer. ConsiliumRe was proactive in giving reinsurers early notice of the client’s exposures and was subsequently able to arrange for interim payments of $20m to be paid to the client within 10 days of notification.
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