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The firm has rotated capital in sidecar Voussoir toward direct investor relationships. -
The NCIUA had initially sought $350mn of limit.
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The carrier increased premium by 7% at the January renewals.
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There was a slight increase in DaVinci and Fontana from 31 December 2024 to 1 January 2025.
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The firm reported record fee income of $128.2mn in 2024, up 26%.
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The state-backed carrier has $2.1bn of Alamo Re cat bond coverage.
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Hurricane Milton accounted for 60% of the firm’s Q4 large loss tally.
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The firm ceded $417mn of premiums to the sidecar in 2024.
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UCITS fund diversification targets limit their capacity for US wind bonds.
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Pricing fell by 13.5% on a weighted average basis across deals that updated last week.
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Several Florida start-ups are poised to begin writing business this year.
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Modest increases to reinsurance costs were partly offset by the Australia cyclone pool.
