Assurant breaches cat retention with $87mn Ida Q3 loss
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Assurant breaches cat retention with $87mn Ida Q3 loss

Rachel Dalton
08 October 2021
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Assurant expects to book around $99mn pre-tax, or $78mn reportable after-tax, cat losses from its global housing segment for Q3 as it reels from Hurricane Ida and wildfire losses.

The carrier said Ida accounted for $87mn of the pre-tax losses, breaching the company’s $80mn pre-tax per-event retention. This includes associated reinstatement premiums to restore the second layer of Assurant’s cat reinsurance programme.

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Rachel Dalton
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