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Earlier this week, RMS estimated insured losses for Helene and Milton at $35bn-$55bn.
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Florida domestics, aggregate retro and flood deals were all marked down.
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The catastrophe loss estimate for September totalled $889mn, pre-tax.
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HCI is estimated to incur a net expense of $125mn for Milton in Q4 2024.
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The Dutch scheme is the largest ILS allocator with a long list of mandates within the sector.
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The multiple offered on the deal is around 2.5x the expected loss.
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The bond triggers on a parametric, per occurrence basis, across Class A and Class B tranches.
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Icosa said certain cat bonds could see more than 0.2 points of price movement.
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Twia filed for the rate hike in August after an actuarial analysis showed that rates were inadequate.
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The company incurred $563mn of total cat losses related to the storm.
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The bulls expect around $20bn-$30bn in Milton losses, with the bears anticipating $40bn-$50bn.
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The estimate includes private cover for residential, commercial and industrial property.