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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.
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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.
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Proceeds will expand the company’s reinsurance protection in Florida and South Carolina.
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The revision is significantly lower than the $4.5bn October estimate.
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Some $200mn of fresh limit entered the ILS market as $3.4bn of deals priced.
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The bond provides coverage on personal-lines property in Florida.
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With plenty of reinsurance capacity, CEO Patel said it’s been a “boring year” for treaty negotiations.
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The total cost for the program increased 1.8% from last year’s.
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The carrier’s estimated first event limit could increase 16%, to $1.35bn.
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California homeowners are also expected to move admitted business to E&S.
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The bond will provide storm protection in Florida and South Carolina.
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The deal will provide named Florida storm protection on an indemnity, per occurrence basis.
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The state insurer of last resort is set to purchase $2.89bn of reinsurance this year.
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The initial offering will include 6,875,000 shares of common stock.
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Renewal rates were favorable compared to what could have happened after several hurricanes.
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An allocation to insurance could “feel like a nice, calm port in the storm” amid wider market volatility.
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The industry loss data provider also increased its estimate for Hurricane Helene to $15.3bn.
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The Floridian company applied to be traded on the NYSE.
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Portfolio rebalancing was not triggered last week, but investors are now distracted and nervous.
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US Coastal Property and Utica Mutual Insurance have brought out their first cat bond deals.
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The issuance is split across three tranches with varying degrees of risk.
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Market participants expect pricing will be flat to down through Q2.
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The insurer has lined up Piper Sandler and KBW to run the process.
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The ILS segment is not ready to gloss over loss-heavy years in renewal discussions.
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The mega cat bond season in Q2 last year recorded issuance of $8.2bn.
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This year’s coverage will involve $2.94bn of new risk transfer.
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There are signs that Florida’s insurance industry is coming under increasing legislative scrutiny.
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There is the potential for cat bond H1 issuance to be a record breaking six months.
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The bond will cover named storms in the state of Florida.
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The Class A section of the bond has doubled in size, at lower pricing.
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The CEO expects to see a larger shift between condos and apartments in 2026 and 2027.
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HCI will now consist of two operating units – the other being its four underwriting entities.
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Comments came as universal reported a 4.2 CoR jump to 107.9% in Q4.
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UCITS fund diversification targets limit their capacity for US wind bonds.
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Several Florida start-ups are poised to begin writing business this year.
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Total combined losses for the agency’s Helene and Milton estimates stand at $31.8bn.
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Citizens approved an average 8.6% rate hike and decreases for one-fifth of policyholders.
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The state has seen 11 new entrants into the insurance market, reflecting renewed confidence.
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Tower Hill secured $400mn of Winston Re limit in 2024.
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Peril- and geography-specific deals are being well received by investors.
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The industry loss number has increased threefold from an initial $5bn pick.
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Price guidance for the bond is 7.00%-7.75%.
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CEO Cerio highlighted changes that allowed the insurer of last resort to combine commercial, coastal and personal lines.
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The new agreement provides $40mn of aggregate limit excess of zero.
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Casualty ILS made inroads, while hurricane hedging strategies came into focus.
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The bond offers a higher multiple than a similar Fuchsia Re deal placed last year.
