Hurricane

The company plans to reduce its quota share to 20% from 40%.

Rates are still materially higher than pre-pandemic and lower layers are holding firmer.

First event tower for the Northeast exhausts at $1.1bn, at $1.3bn for Southeast and $750mn in Hawaii.

Various trends may work together to hold the cat markets up for longer than some had feared.

State interference is likely to be required if an attack is large enough to trigger bonds now on the market, experts say.

Panellists at the Insurance Insider ILS conference say forecasts can push capital to “the edges” of the market.

Increased ILW purchasing reflects cash-rich funds looking to protect return levels.

Researchers expect 15-20 named storms to form in the Atlantic Basin.

Insured loss for Q1 was 10% higher than the decadal average of $18bn.

Tropical Storm Risk (TSR) has updated its forecast for North Atlantic hurricane activity, predicting a "hyper-active season" in 2024, with activity being around 70% above the 1991-2020 climate norm.

Eleven hurricanes are predicted, with five expected to reach Category 3 or higher.

FHCF rates are also projected to decrease by a statewide average of 7.38%.