Hurricane
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Comments came as universal reported a 4.2 CoR jump to 107.9% in Q4. -
Hurricane Milton accounted for 60% of the firm’s Q4 large loss tally.
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Several Florida start-ups are poised to begin writing business this year.
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Total combined losses for the agency’s Helene and Milton estimates stand at $31.8bn.
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AuM remains generally flat at UCITS funds over the weeks since LA fires started.
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Over 2024, four hurricanes added 13 points of cat-loss impact to the combined ratio.
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Capital inflows, notably into UCITS funds, and accumulated returns supported issuance of $17.2bn in 2024.
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Axis Capital’s fee income from strategic capital partners grew 39% to $85mn in the year to 31 December 2024, up from $61mn the year prior, the firm’s Q4 earnings release said.
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The Floridian also expects to report its “best earnings quarter” for Q4 2024.
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The industry loss number has increased threefold from an initial $5bn pick.
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Total economic losses were $368bn, 14% above the 21st century average.
