Florida
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The UK-based insurer’s Florida Re secured state regulatory approval in June. -
As both carriers and reinsurers deal with softening markets, all eyes are on hurricane-prone areas.
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She previously served as Hub’s North American casualty practice leader.
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This will be Fidelis’ first office in North America and will be led by former Navigators Re head Ivan Vega.
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Models anticipate a busier second half, particularly in the next few weeks.
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The deal is expected to result in $700mn in combined GWP in Florida upon completion.
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Company said defendant ‘distraction’ can’t make up for flimsy arguments.
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Lawmakers are seeking input on risk evaluation, limits and other concerns.
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The executive joined Navigators in 2010 after eight years at White Mountains Capital.
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The Miami-based executive assumes the role left vacant by April McLaughlin.
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The lawsuit claims more than 100 employees left with Parrish and his three reports.
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Category 4 and 5 storms could become more common and hit further north.
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Despite predicting fewer hurricanes, the numbers are still above average.
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The weather-modelling agency is predicting a below-normal season.
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The programme’s total limit this year is down $594mn to $1.36bn.
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There are now 14 new companies writing homeowners’ policies in the state.
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The cost comes in at $530.6bn, roughly $20mn lower than budgeted.
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This is up from last year’s $1bn protection for its Florida treaty.
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The latest update brings the agency’s combined estimate for Milton and Helene to $32.4bn.
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HCI secured three towers with $3.5bn in XoL coverage.
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The $2.59bn renewal is up 45% from last year.
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The Floridian also secured $352mn of multi-year coverage extending to 2027.
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The total cost excluding a 15% quota share was $201.85mn, with rates down 12.2% from last year.
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A 20% increase in FHCF retention levels sent cedants to the private market.
