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The Florida-based insurer reported a $15mn cat loss for the full year.
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The utility’s total pre-tax charges for the 2018 Camp Fire and 2017 Northern California wildfires now stand at $14bn.
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The insurer posted a net loss of $9.3mn for Q4 2018.
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The 2018 season was above average and produced a total of 15 named storms, the modelling agency said. -
This is more than twice the level that some were projecting in September.
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Anyone scanning the news stories we have covered in the past week might get a sense of déjà vu.
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This was up from the $623mn figure reported in its Q2 2018 results.
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The firm said its maximum no-loss return was 30 percent, up from 23 percent in 2018.
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The bond’s spread was confirmed at 4.25 percent, at the top end of estimates.
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Florida Specialty, which has ceded 100 percent of its risk to Sirus America Insurance Company, was among those affirmed.
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The target coupon on the deal has moved to the upper end of forecasts.
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The legislation has been designed to help protect the state against the costs of natural disasters.
