Insurers
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The measure could have landed insurers with extra tax on US business. -
The cost comes in at $530.6bn, roughly $20mn lower than budgeted.
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Allstate attributed the bulk of its losses to three major wind and hail events.
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In 2024, MGA GWP reached approximately $20bn in Europe.
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The bond will provide protection for storms, quakes and fires in seven US states.
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The $2.59bn renewal is up 45% from last year.
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Up to nine million acres of US land are considered likely to burn.
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Last week, TSR updated its forecast and is now predicting above-average storm activity.
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The total cost excluding a 15% quota share was $201.85mn, with rates down 12.2% from last year.
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The company also has $100mn for US hurricane events.
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The Floridian also secured $352mn of multi-year coverage extending to 2027.
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The deal leaves premier surety as Travelers' sole Canadian portfolio.
