21 February 2018

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Fac market takes EUR146mn Mapfre Maria hit

1 December 2017

Spanish (re)insurer Mapfre's Global Risks unit has passed on some EUR146mn in hurricane Maria-related losses to the facultative reinsurance market, the carrier confirmed as part of its Investor Day 2017.

The breakdown of the extent of the fac market's exposure to the group's major third quarter cat losses also revealed that facultative reinsured losses from hurricane Harvey, hurricane Irma and the two major Mexican Q3 earthquakes are expected to be comparatively minor, totalling only EUR6mn.

Mapfre said that gross losses...

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