-
Florida-based Centauri Specialty is to sell its Louisiana homeowners' insurer offshoot.
-
The premium relates to a homeowners' book of business.
-
The deals include a $30mn aggregate and a $110mn all-other-perils deal.
-
It used to be called “diworsification” – a phrase coined by Dowling analysts that took hold and became the industry's standard jargon for low-priced international catastrophe risk back around 2011.
-
Incurred losses from Hurricane Michael have risen another 4 percent to reach $7.4bn, according to the Florida Office of Insurance Regulation.
-
Cat losses and higher reinsurance ceded premiums were partially offset by improved underwriting margins and continued discipline over operating expenses, the carrier said.
-
News of adverse development from the two Floridians may point to a market-wide issue.
-
Tropical Storm Nestor made landfall at the St Vincent nature reserve off Florida's northern Gulf Coast on Saturday afternoon.
-
The insurer disclosed $46mn of losses for the quarter and $15mn in adverse reserve development from cat events in prior years.
-
Policies underwritten by the business will be cancelled as of 1 November, 2019.
-
Avoiding a “bucketing” approach to risk-taking will help the ILS industry fill in the insurance protection gaps, according to Fermat managing director John Seo.
-
The number of assignment of benefits claims in Florida increased by 40.9 percent year on year in June before the implementation of the state’s new laws designed to stamp out abuses of the system.