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HCI secured three towers with $3.5bn in XoL coverage. -
The $2.59bn renewal is up 45% from last year.
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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 Floridian also secured $352mn of multi-year coverage extending to 2027.
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Property cat XoL rates were off by around 10% on average on a blended risk-adjusted basis.
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Florida’s top regulator says he’s eyeing eventual tweaks to the state’s cat fund, too.
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The firm is pressing ahead with IPO plans just ahead of the start of the Atlantic storm season.
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The ILS market has won market share at the top of programmes as buying expands.
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The bond will provide protection for Allstate’s Florida subsidiary, Castle Key.
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The agency forecasts up to five major hurricanes and 19 named storms.
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As with 2024, pricing pressure has been most acute on top layers.
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Berkshire Hathaway lost market share but remained the largest traditional reinsurer, our study shows.
