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Allstate attributed the bulk of its losses to three major wind and hail events. -
The £3.7bn deal was announced in December.
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This is up from last year’s $1bn protection for its Florida treaty.
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HCI secured three towers with $3.5bn in XoL coverage.
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The Floridian also secured $352mn of multi-year coverage extending to 2027.
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It previously predicted activity slightly below the 1995-2024 average.
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The agency forecasts up to five major hurricanes and 19 named storms.
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Tornadoes have killed at least 32 people in three states.
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Aviva and Direct Line struck the landmark deal in December.
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Tropical Cyclone Alfred and Queensland flooding brought thousands of claims.
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The carrier’s estimated first event limit could increase 16%, to $1.35bn.
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The insurer has not decided whether to sell its Eaton subrogation rights.
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