Lack of Volatility in Results and Excess Capital Returned to Shareholders
SIGNIFICANTLY LESS VOLATILITY FROM CATASTROPHES
Confidential
(Percent)
RATIO OF EVENT LOSS TO SURPLUS FOR LARGEST EVENTS SINCE 1992*
18%
16.2%
16.4%
16%
13.8%
14%
10.9%
11.4%
12%
9.6%
10%
6.9%
8%
6%
4.3%
4.3%
4.6%
3.9%
4%
2.4%
3.0%
1.7%
2.8%
1.9%
1.1%
0.9%
0.9%
0.8%
2%
0.0%
0.6%
0%
6/30/1992 12/31/1993 6/30/2001 6/30/2005
Hurricane Northridge Sept. 11 Hurricane
Andrew Earthquake
Katrina
Attacks
Financial 3/31/2011 9/30/2012 6/30/2017
Crisis as of 2Q11 Storms Storm Sandy 3Q2017 4Q2018
3/31/2009(1)
Events Events
9/30/2018 12/31/2019 6/30/2021
COVID-19 Hurricane Ida
2020 (2)
(3)
Industry Event Loss/Surplus
WRB Event Loss/Surplus
* Ratio is for end-of-quarter surplus immediately prior to event.
(1) Change in surplus from 12/31/2007 peak to date of maximum capital erosion at 3/31/09. Reflects losses offset by earnings.
(2) Lloyd's estimate > $114mm
(3) RMS estimate $31-44B
Sources: PCS; Insurance Information Institute; A.M. Best; WRB
bJ
8
12View entire presentation