Results
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In other property, Helene and Milton will assure rates remain attractive, he added. -
The firm’s AuM in four key vehicles rose $526mn in Q3.
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The firm sees a "robust" pipeline of potential investors ahead of the renewals.
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The Floridian also announced the completion of its first-ever takeout from Florida Citizens.
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Ceded losses grew by 69.2% in Q3 from the prior year quarter to $44mn.
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The combined ratio included 17 points of catastrophe losses in the third quarter.
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CEO Adrian Cox said Beazley’s recent $290mn ILW purchase was not driven by “capital flexibility in and of itself”.
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Andrade flagged expected 5% to 10% increases in the US and Europe.
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The company’s reinsurance premiums ceded fell by 58% to $149mn.
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Fee income fell by 42% to $25.1mn in Q3 over the prior-year quarter.
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Liberty Mutual expects $550mn in Helene losses versus Milton’s $250mn-$350mn.
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The carrier’s estimated pre-tax losses from Milton are $65mn to $110mn.
