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The loss figure has increased 200% from the initial number provided in October. -
Moderate impacts to ILS returns are anticipated from Hurricane Milton.
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The association’s Hurricane Beryl net loss stood at $455mn as of 30 September.
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The estimate includes $102mn from Milton and $114mn Helene development.
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It is targeting $25mn GWP this year and $50mn GWP in 2025.
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The floods add to an already historic loss tally for Canada in 2024.
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Helene losses were spread wider than initially suggested, in contrast to Milton claims.
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The ILS unit’s AuM was higher by $100mn compared to $1.9bn as of 30 June.
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Twia’s SCS losses in Q1-Q3 2024 have been more than double the budgeted amount.
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The reinsurer took $743mn of nat-cat losses in the quarter.
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The firm recorded a 13.3% nat cat impact to the P&C combined ratio.
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Fema's traditional reinsurance programme will attach at losses of $7bn and above.
