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The Florida carrier reported a 103.5% combined ratio in Q3.
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The carrier said it expected its Milton losses to fall below its EUR500mn ($537mn) Helene loss.
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Only around EUR70mn-EUR140mn will fall to private insurers.
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Most of the losses derive from France.
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The firm will provide an update on 22 November to avoid holiday season.
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The firm is also integrating changes to its process to allow it to cover wider ground.
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The commercial carrier also reported a Hurricane Milton pre-tax net loss forecast of $250mn-$300mn.
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The estimate implies a roughly $15bn homeowners’ industry loss from the hurricane.
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The figures imply first-layer reinsurance recoveries for Helene.
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The NFIP’s traditional reinsurance coverage kicks in at $7bn of losses.
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The loss tally is considerably lower than estimates issued by model vendors.
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Insured losses for 9M 2024 have hit $102bn, according to a report.