US Southeast/Gulf
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Staff targeted include producers that channel business through Howden’s London wholesale arm. -
State legislation has led to major strides in rate adequacy.
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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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This year is predicted to be an above-average season, like 2024.
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Most of the losses are attributable to a supercell storm in Texas.
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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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The MGA has faced high claims activity on its energy liability book, fuelled by social inflation.
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The multi-day weather outbreak caused widespread damage from Texas to the Carolinas.
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The 2024 hurricane season stayed within predictions for high activity but lacked market-moving events.
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Twia’s SCS losses in Q1-Q3 2024 have been more than double the budgeted amount.
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