Hurricane
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The carrier’s Milton loss came in below expectations, but its fire claims will be “material” in Q1. -
CEO Cerio highlighted changes that allowed the insurer of last resort to combine commercial, coastal and personal lines.
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The index’s performance in November was stronger than the prior year, although YTD returns are behind 2023.
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Hurricane Milton resulted in the largest insured loss of the year at $25bn.
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Cat bonds were a key supply-side driver at 1 January 2025.
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The UCITS cat bond segment has added 54% in AuM since Hurricane Ian.
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Casualty ILS made inroads, while hurricane hedging strategies came into focus.
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The company no longer has any exposure to reinsurance contracts.
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Overall, reinsurers accepted that rate cuts were still leaving them with strong margins.
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TSR anticipates that next year will see an ACE value of 129 compared with the 30-year norm of 122.
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The state reinsurer of last resort discussed options for 2025 reinsurance buying strategy.
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It estimated insured losses from nat cats on track to exceed $135bn in 2024.
