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Insured losses for 9M 2024 have hit $102bn, according to a report. -
Liberty Mutual expects $550mn in Helene losses versus Milton’s $250mn-$350mn.
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The pension scheme has been winding down its ILS portfolio in recent years.
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The carrier’s estimated pre-tax losses from Milton are $65mn to $110mn.
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The cyclone pool received $479mn in GWP in the year to 30 June 2024.
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The carrier is looking at a $600-$900mn hit from Debby, Helene, Milton.
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The deal would represent a diversifying auto risk deal.
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Redington provides services to UK pension funds, wealth managers and institutional investors.
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Pricing is expected to “stay neutral of soften” for January renewals.
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The Floridian anticipates Hurricanes Debby and Helene to incur losses of $3.8mn in Q3 2024.
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The policies assumed represent $200mn of in-force premium.
