California
-
The carrier disclosed it will book $1.1bn in net losses from the California fires.
-
The carrier has been reducing its presence in the state since 2007.
-
The carrier’s Eaton Fire loss would be a retained net loss hit.
-
The Bermudian’s wildfire loss estimate was based on an industry loss range of $35bn-$45bn.
-
Plus, the latest people moves and all the top news of the week.
-
The carrier has around $2.5bn-$4bn of reinsurance cover specifically for California risk.
-
The Floridian also expects to report its “best earnings quarter” for Q4 2024.
-
The figure does not include specie or auto losses.
-
The nationwide carrier ranked sixth for multi-peril California homeowners' insurance in 2023.
-
Munich Re and Berkshire Hathaway are among the major providers to large California cedants.
-
The carrier also has a $500mn excess $2.4bn aggregate protection.
-
The company received over 10,100 home and auto claims as of January 27.
Most Recent
-
Lancashire offers to buy out Names on Syndicate 2010
01 July 2025 -
Hadley set to leave MCI Syndicate 1902 for Starr
01 July 2025 -
Vantage’s Patel joins Aon as FI industry lead
01 July 2025