Property
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Insured losses for 9M 2024 have hit $102bn, according to a report. -
Liberty Mutual expects $550mn in Helene losses versus Milton’s $250mn-$350mn.
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The carrier’s estimated pre-tax losses from Milton are $65mn to $110mn.
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The cyclone pool received $479mn in GWP in the year to 30 June 2024.
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The deal would represent a diversifying auto risk deal.
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Pricing is expected to “stay neutral of soften” for January renewals.
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The policies assumed represent $200mn of in-force premium.
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Assuming Munich Re takes roughly a 3% market share of hurricane losses suggests a ~$20bn industry loss for Helene.
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As a result of mostly flooding, £495mn ($644mn) of losses occurred in the UK.
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The company said $13bn-$22bn will come from wind damage.
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Losses from the hurricane may not significantly impact on many funds’ annual returns.
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The catastrophe loss estimate for September totalled $889mn, pre-tax.
