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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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Buyers have turned to retro markets for covers where ILW pricing is less attractive.
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Investors eyeing private ILS include opportunistic allocators keeping watch on storm season.
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The pension plan noted in June 2024 that it was exploring new options in ILS.
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The latest update brings the agency’s combined estimate for Milton and Helene to $32.4bn.
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HCI secured three towers with $3.5bn in XoL coverage.
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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.
