Insurers, reinsurers pay $19 billion for wildfires, typhoons
Posted On: Apr. 6, 2020 6:17 AM CSTData from the Bermuda Monetary Authority showed that local insurers and reinsurers have paid out $19 billion in claims related to California and Australia wildfires as well as Japanese typhoons in the last three years, Artemis reports. These claims amount to nearly 20% of the sector's capital and surplus.