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The company said it is still on target to achieve $3bn net income for the full year. -
Fema's traditional reinsurance programme will attach at losses of $7bn and above.
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The CEO was responding to comments made by Chubb’s Evan Greenberg.
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The flat renewal follows a tripling of RoL on the programme last year.
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The carrier said it expected its Milton losses to fall below its EUR500mn ($537mn) Helene loss.
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Only around EUR70mn-EUR140mn will fall to private insurers.
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The carrier’s retail division saw the largest growth at 4.7%.
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The carrier has pegged preliminary pre-tax Milton losses at less than $200mn.
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The carrier increased specialty premium by 39% by the nine-month mark.
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The firm will provide an update on 22 November to avoid holiday season.
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The figures imply first-layer reinsurance recoveries for Helene.
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Insured losses for 9M 2024 have hit $102bn, according to a report.
