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The UK-based insurer’s Florida Re secured state regulatory approval in June. -
On a net basis, premiums written were up 4.7% to $641.3mn.
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The carrier’s top line grew to $1.4bn in the first half of 2025.
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Insurance penetration varies, but hotels have “near-total” coverage and strong limits.
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The storm devastated Jamaica and Cuba, but insurance penetration on the islands is low.
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The June 2024 ransomware attack produced claims across many firms.
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Industry-wide initiatives continue to target expanded youth access to the sector.
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The carrier’s retail division saw premiums increase by 7.3% to $2bn.
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T&Cs, as well as exclusions, remain largely unchanged, the executive said.
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The carrier is continuing to reposition its portfolio to drive more consistent returns.
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Interim CUO Nick Pritchard turned in his notice in August of this year.
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Widespread underinsurance and low exposures will limit losses.
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