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SSREF - Travelers Reports Highest-Ever Level Of Q1 Catastrophe Losses
Swiss Re Ltd.
Travelers has reported $835 million of pre-tax catastrophe losses for Q1 2021, which compares to just $333 million pre-tax in the prior year quarter.
Reinsurance capital may not have provided all that significant a support to Travelers in the first-quarter, being the start of its year for its renewed aggregate reinsurance.
The first-quarter catastrophe losses will have eroded a significant amount of the deductible sitting beneath the aggregate reinsurance.