Bermuda
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“They've been focused on this for more than 10 years,” said Bermuda’s CIT Agency CEO Mervyn Skeet. -
John Howard was appointed as an independent, non-executive member.
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The estimate is based on industry losses in the range of $35bn-$45bn.
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Cat losses in the quarter totalled $49.1mn, net of reinsurance, of which $37.8mn was from Milton.
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The firm projects losses from the fires at between $160mn-$190mn.
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The group's reinsurance book was also hit with cat losses during the quarter.
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The carrier reported $2.8mn of favourable development compared to a $3.3mn charge a year ago.
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The chairman said the recent events were akin to Andrew, Katrina and the WTC.
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SiriusPoint’s property book grew 25% in full year 2024.
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Good ESG practices are part of good risk management, the company said.
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The carrier expects to book $100mn-$140mn from the California wildfires.
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The firm’s core CoR improved 3.2 points to 90.2%.
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