California
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Up to nine million acres of US land are considered likely to burn. -
Ark's combined ratio included 25 points of catastrophe losses in Q1.
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The insurer has not decided whether to sell its Eaton subrogation rights.
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The industry loss data provider also increased its estimate for Hurricane Helene to $15.3bn.
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The carrier has received 12,300 claims as of 28 March.
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Sources warned some property XoL books are already running 50% loss ratios.
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Island appetite remains stable, but early 2025 loss activity has injected fresh uncertainty.
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“We do not have the luxury of time,” he said during the Bermuda Risk Summit.
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These events can also no longer be considered secondary perils, executives said.
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Some $4.8bn of reinsurance and cat bond limit will come up for renewal in 2025.
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