North America
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The results were disclosed in parent company Fairfax’s quarterly earnings. -
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 firm has helped underwriting businesses secure $3.5bn in capital.
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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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Assuming Munich Re takes roughly a 3% market share of hurricane losses suggests a ~$20bn industry loss for Helene.
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Axa XL Re has hired former Swiss Re executive Greg Schiffer as its North America CEO, effective from 11 November.
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The company said $13bn-$22bn will come from wind damage.
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