Florida
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Fema's traditional reinsurance programme will attach at losses of $7bn and above. -
The firm will provide an update on 22 November to avoid holiday season.
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The estimate implies a roughly $15bn homeowners’ industry loss from the hurricane.
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The figures imply first-layer reinsurance recoveries for Helene.
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The loss tally is considerably lower than estimates issued by model vendors.
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In line with Milton’s moderate forecast loss, the ILS market reaction will be less influential in post-event dynamics.
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The carrier is looking at a $600-$900mn hit from hurricanes Debby, Helene and Milton.
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Richard Mangion spent almost two years as CFO at Bridgehaven.
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The firm still expects to deliver positive net income for Q3 2024.
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The company said $13bn-$22bn will come from wind damage.
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HCI is estimated to incur a net expense of $125mn for Milton in Q4 2024.
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Most of the insured loss was attributable to wind.
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