The initial estimate covers storms in France, Germany, Switzerland and Italy, AM Best reported on October 19.
Perils AG estimates insured losses of €3.30 billion ($3.7 billion) from severe convective storms that hit France, Germany, Switzerland and Italy in August.
AM Best reported the figure on October 19, and the available text gives only the four-country aggregate alongside the euro and dollar amounts. It does not break the loss down by country or peril or say whether Perils will revise the estimate.
Reported by the Cat bonds & reinsurance desk from AM Best News. Published . Corrections
The managing general underwriter has not disclosed capacity providers, property lines or premium targets.
Net investment income rose to $211 million, but $47 million of investment losses left the combined investment result at $164 million.
AM Best estimated adjusted financial leverage at 52.2% excluding the contractual service margin at year-end 2025, or 15.3% including it.
Markel retains the first $2.6 billion of the $4.8 billion portfolio and keeps handling the claims.
Karen Clark says most carriers now license one catastrophe model and adjust it toward their own view of risk.
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