London-listed insurer RSA has informed its reinsurers that it expects to incur C$350mn-C$450mn ($270mn-$347mn) of claims from the Fort McMurray wildfires, The Insurance Insider can reveal.
The confidential loss advisory takes total known cedant loss notifications towards C$3.3bn at the upper end of ranges.
RSA’s reinsurance cover is understood to attach at C$75mn, with C$175mn of Canada-specific cover in place.
In excess of this level the losses will flow into RSA’s widely written global catastrophe programme…Read more at The Insurance Insider