Australian floods expected to cost A$4-A$6bn
Espirito Santo Investment Bank has said the Australian floods will amount to at least two events, and given the mounting political pressure on the local primary insurers the burden for the local primaries is likely to be much more punishing than the impact for the international reinsurers where wordings are clear and where losses will likely be syndicated across a much broader list.
In a call with Noel Condon, chief executive of Chartis Australia, Espirito Santo said that Mr Condon confirmed that it is likely to take months for the full extent of the losses to emerge and even
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