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The cost of reinstatement was included in $170mn wildfire net loss figure. -
Climate change and other loss impacts were not adequately incorporated, sources said.
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The CEO expects to see a larger shift between condos and apartments in 2026 and 2027.
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HCI will now consist of two operating units – the other being its four underwriting entities.
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ILS is delivering “a growing contribution” to the group, according to CEO Cloutier.
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State Farm General has asked California regulators for an emergency rate increase.
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There was a slight increase in DaVinci and Fontana from 31 December 2024 to 1 January 2025.
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The firm reported record fee income of $128.2mn in 2024, up 26%.
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Comments came as universal reported a 4.2 CoR jump to 107.9% in Q4.
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Hurricane Milton accounted for 60% of the firm’s Q4 large loss tally.
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The carrier expects the market loss to land at $35bn-40bn.
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The carrier has paid $1.75bn on around 9,500 claims filed from the wildfires.
