Results
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The Floridian anticipates Hurricanes Debby and Helene to incur losses of $3.8mn in Q3 2024. -
The company incurred $563mn of total cat losses related to the storm.
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The performance marked the best August for ILS since the index incepted in 2006.
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The headline figure of $7.15bn includes $2.91bn of DaVinci equity plus debt.
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Return on capital employed hit 13% last year as the cost of capital fell to 8%.
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Positive cat experience impact of $600mn was offset by $500mn in property and specialty reserves.
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The P&C Re CoR came in at 84.5%, a 10.2-point YoY improvement.
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Nat cat events triggered A$1.23bn of losses during the year.
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Total catastrophe losses stemmed from 20 events and were estimated at $587mn.
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The ILS business increased H1 fee income by 13% to $68mn.
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The losses were not passed through to the firm’s ILS business.
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Subsidiaries Core and Typtap have applied to participate in the November Citizens policies assumption.
