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The NFIP’s traditional reinsurance coverage kicks in at $7bn of losses. -
Insured losses for 9M 2024 have hit $102bn, according to a report.
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The pension scheme has been winding down its ILS portfolio in recent years.
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The cyclone pool received $479mn in GWP in the year to 30 June 2024.
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Pricing is expected to “stay neutral of soften” for January renewals.
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The company said $13bn-$22bn will come from wind damage.
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Florida domestics, aggregate retro and flood deals were all marked down.
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The estimate includes private cover for residential, commercial and industrial property.
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The manager’s ILS allocation now spans six of its seven investment funds.
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Hurricane Milton will show the ILS product behaving as investors expect it to.
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This is a far narrower drop than post Ian, when the index was lost 10%.
