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The carrier transferred $44mn from a holding company to its insurance subsidiary in the quarter.
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New Orleans officials warned more damage could be revealed on Thursday. -
The carrier also reported lower managed premiums, which weighed on its results.
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The storm has also struck areas of Alabama still struggling to recover from Hurricane Sally after its Category 2 landfall in Louisiana yesterday.
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The storm is expected to gather speed before making a second landfall along the Mississippi coast.
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New Orleans may fall outside the strongest winds but the storm's possible track has drawn closer to the urban centre.
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RenRe thinks the major cat losses of Q3 will cause the property cat market to harden throughout 2021.
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Hurricanes Isaias and Sally were "full retention events" and the firm took 2,000 new Irma cat claims in Q3, the company said.
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Pricing on the deal's lower-risk layers has dropped below USAA's original target, falling 50 basis points.
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The company’s overall operating income was down 24% to $907mn.
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The storm has gained strength after earlier forecasts put it at a Cat 1 landfall strike.
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RenRe suffered nearly $322mn in net catastrophe losses in the third quarter, with a further $100.6mn going to third-party investors.
