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Florida’s top regulator says he’s eyeing eventual tweaks to the state’s cat fund, too. -
The deals covered Euro wind and Italy quake, Florida hurricane and a retro bond.
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TSR previously predicted activity slightly below the 1995-2024 average.
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SCS can no longer be considered a "secondary" peril for the US insurance market, Steve Bowen said.
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The agency forecasts up to five major hurricanes and 19 named storms.
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Two large storms hit the Midwest and Ohio Valley regions on 14-17 May and 18-20 May.
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Tornadoes have killed at least 32 people in three states.
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The targeted uplift comes after Mercury ceded nearly $1.3bn of wildfire losses to reinsurers in Q1.
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The revision is significantly lower than the $4.5bn October estimate.
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Wildfire losses from fronting and ILS activities were EUR438mn.
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Ark's combined ratio included 25 points of catastrophe losses in Q1.
