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.
Is the current hard market here to stay?
After the dark days of 2017 – the year of Hurricanes Harvey, Irma, and Maria – when Lloyd’s reported an underwriting loss of £3.4bn, it’s fair to say the intervening years have been good to the London market rating-wise.
Consilium Explores the rebrand
The heads of motor and non-motor at the recently rechristened Consilium have spoken out about the recent rebrand, and how the new name will help the business.
Consilium ready for lift off
After the worldwide economic disaster of the last 18 months the aviation industry has had mixed fates.