Hurricane
-
The company also has $100mn for US hurricane events. -
The deals covered Euro wind and Italy quake, Florida hurricane and a retro bond.
-
The agency forecasts up to five major hurricanes and 19 named storms.
-
The revision is significantly lower than the $4.5bn October estimate.
-
Premiums ceded to the ILS vehicle increased by 76% to $433mn.
-
The largest individual net loss at EUR230mn was caused by Hurricane Milton.
-
The bond was trading at around 12.3c on the dollar in the secondary market last month.
-
This came as the market’s underwriting profit dipped 10% for 2024.
-
The CEO expects to see a larger shift between condos and apartments in 2026 and 2027.
-
HCI will now consist of two operating units – the other being its four underwriting entities.
-
ILS is delivering “a growing contribution” to the group, according to CEO Cloutier.
-
The firm reported record fee income of $128.2mn in 2024, up 26%.
