Results
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The CEO expects to see a larger shift between condos and apartments in 2026 and 2027. -
HCI will now consist of two operating units – the other being its four underwriting entities.
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ILS is delivering “a growing contribution” to the group, according to CEO Cloutier.
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The firm reported record fee income of $128.2mn in 2024, up 26%.
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Comments came as universal reported a 4.2 CoR jump to 107.9% in Q4.
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Hurricane Milton accounted for 60% of the firm’s Q4 large loss tally.
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The carrier expects the market loss to land at $35bn-40bn.
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Modest increases to reinsurance costs were partly offset by the Australia cyclone pool.
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Wildfire loss ‘serves as a strong reminder not to unwind hard-fought for rates and terms’, the executive said.
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The carrier said 72% of those losses occurred in personal property.
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The estimate is net of its per-occurrence reinsurance program and gross of tax.
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The company will ‘aggressively pursue subrogation’ for the Eaton Fire.
