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The carrier surpassed the retention on its annual aggregate reinsurance cover for the year to March 31. -
Insured losses were the second highest on record for the first quarter.
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Fully placed, this would equate to $275mn on the per-occurrence tower and $675mn on agg.
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The industry loss data provider also increased its estimate for Hurricane Helene to $15.3bn.
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The program will provide excess casualty coverage across a broad range of industries.
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The Floridian company applied to be traded on the NYSE.
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This is the first time the Texas Fair Plan has entered the cat bond market.
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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 subject business covers a portfolio of residential insurance.
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The announcement spurred a quick spike in stock market valuations.
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KCC is part of the CDI’s review into creating a public wildfire cat model for insurers.
