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The Californian insurer had a private deal, Randolph Re, that provided pure wildfire protection. -
In April, the loss modeller pegged losses at A$2.57bn.
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The number has expanded by around 40% from an earlier update, sources said.
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The latest update brings the agency’s combined estimate for Milton and Helene to $32.4bn.
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The executive has 15 years of experience in meteorology and cat analytics.
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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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Up to nine million acres of US land are considered likely to burn.
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Last week, TSR updated its forecast and is now predicting above-average storm activity.
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Most of the losses are attributable to a supercell storm in Texas.
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The company also has $100mn for US hurricane events.
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The Floridian also secured $352mn of multi-year coverage extending to 2027.
