Australia: Extreme weather losses have surpassed US$1.18bn

According to reinsurance broker Gallagher Re’s 1st View mid-year renewal report, recent legislative reforms in the State of Florida encouraged reinsurers to write across the board at the mid-year renewals, in hopes of maintaining their market share on programmes.The reforms, signed into law in late December 2022, have successfully reduced property litigated claims by a substantial margin, creating