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The bill that will be discussed in the special session is expected to be available for senator perusal later this week or early next week to allow ample time to read and discuss. -
Several firm-orders have been released, but there are widespread expectations of a much-delayed renewal as low-layer capacity remains elusive.
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Notices of intent to file lawsuits fell 12%, the first time such notices have fallen since July.
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The company previously had its Demotech rating downgraded from 'A' to 'S'.
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The bond will provide cover against named storms in the US.
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The US nationwide has placed $550mn of nat cat risk into the cat bond market already this year.
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The issuance is seeking named storm cover in Florida, Georgia and South Carolina.
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The Florida carrier has yet to finalise its programs as it awaits potential reforms.
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RenaissanceRe CEO Kevin O’Donnell explained on an earnings call his take on the mid-year renewals and a relatively low impact of the Ukraine war.
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American Integrity was looking to replace $79mn of maturing cover.
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The carrier has already secured 85% of all-states, first-event cover for the June renewal.
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Florida-based Universal sees 6.1% drop in policies in force; challenging claims environment pressures underwriting profit.
