Mercury General has said it expects a full $150mn retention loss on its property catastrophe reinsurance protection from the ongoing California wildfires, as it noted the program carries $1.29bn in limit in excess of the retention.
Ute Michaelsen will retire from her position as head of facultative for North America at Swiss Re on 31 March after 28 years with the reinsurance giant, The Insurer can reveal.
“From a reinsurance perspective, the way the insurance industry looks at it, it probably does complicate things, because when you get into loss definition you'll need to consider how this Palisades event is correlated or concurrent with the Eaton fire and perhaps some others across the state”
Brian Epsie, CUO of wildfire-focused insurtech MGA Kettle
Southern California Wildfires
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