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The deal is expected to result in $700mn in combined GWP in Florida upon completion. -
The company plans to launch in New York and New Jersey next year.
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American Integrity grew GWP by 30% to $287mn and Slide GWP was up 25% to $435mn in Q2.
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The Florida carrier said ceded premiums will rise slightly to $106mn in Q3.
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At least 14 new companies have opened up shop in the state in recent years.
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Category 4 and 5 storms could become more common and hit further north.
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Despite predicting fewer hurricanes, the numbers are still above average.
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The weather-modelling agency is predicting a below-normal season.
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The programme’s total limit this year is down $594mn to $1.36bn.
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The cost comes in at $530.6bn, roughly $20mn lower than budgeted.
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Slide is putting faith in tort reforms and will lean into Florida, CEO Lucas said.
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PCS's loss estimate for the March Missouri SCS pushed the bond beyond its exhaustion point.
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