Results
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The (re)insurer has been reorienting itself away from writing property cat. -
The carrier also secured risk-adjusted rate increases of 19% across its portfolio at 1 January.
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The company's portion of net written premiums from Fidelis is expected to be around $550mn to $600mn for the full year.
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This takes its ex-Florida cat losses since the start of its reinsurance annual risk period in April above $2bn.
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The ILS analysts pegged expected returns for the year at 7.40%.
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The firm missed its earning per share target for the quarter.
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The low-risk group of funds outperformed the high-risk funds in the month and year.
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The index has recorded gains over the previous two months following sharp falls in September due to Hurricane Ian.
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The asset manager’s reinsurance funds shrank 17% in its fiscal year to end October to reach $2.6bn.
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Mt Logan ceded $68mn of premiums to Everest Re in the three months leading up to 30 September – down 41% compared to Q3 2021.
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The partial redemption values Ordinary Shares at $3.33 and C Shares at $17.50.
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Some firms have fared better than others in the competition to raise funds during the year.
