Hurricane

The forecaster is predicting there could be as many as 14 hurricanes in the North Atlantic between June and November.

The US National Oceanic and Atmospheric Administration (NOAA) has forecast “near-normal" hurricane activity in the Atlantic this year.

The board also approved a PLA 2023 line of credit, which provides up to $1.25bn in liquidity.

The deal priced 50 basis points below guidance.

Citizens’ board is slated to meet on May 16 at 13:30 ET to discuss the reinsurance and risk transfer program.

The firm has posted a combined ratio of 75.4% for 2022.

Welcome to the 2023 Trading Risk Awards, where the best and brightest in the ILS market are recognised for their achievements from the past year – and what a year it was.

The CFO said cedants ‘recognise the new supply-demand reality’ as it benefitted from an early release of Hurricane Ian reserves.

The carrier’s combined ratio totaled 100%, up 2.1 points from Q1 2022, reflecting a higher net loss ratio, partially offset by a lower net expense ratio.

The withdrawal from the aviation reinsurance class announced yesterday represented ~$10mn of non-renewed premium.

In a discussion at Trading Risk’s London ILS 2023 conference, panellists compared the current cyber ILS market to the cat market in the 1990s.

The impact of recent tort reforms is already being felt in the Sunshine State, the CEO said.