Results
-
January’s California wildfires meant third-party investors suffered a loss of $195.3mn. -
Despite wildfires, reinsurers are “well positioned to maintain strong profitability in 2025”.
-
MAP’s Christopher Smelt said impact on nationwide programmes will cause risk aversion.
-
Premiums ceded to the ILS vehicle increased by 76% to $433mn.
-
ILS as a percentage of the pension fund’s total assets grew to 1.5%.
-
The largest individual net loss at EUR230mn was caused by Hurricane Milton.
-
This came as the market’s underwriting profit dipped 10% for 2024.
-
The reinsurer pegged the market loss at $40bn.
-
The carrier pegged its LA wildfire losses at EUR140mn.
-
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.
-
ILS is delivering “a growing contribution” to the group, according to CEO Cloutier.
