Allstate
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January cat losses continue to run higher than prior years, with no help from latest wildfires. -
The carrier estimated January cat losses of $1.08bn, or $849mn after-tax, including the fires.
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The investment firm’s holdings were down to $59mn at the end of Q4.
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The carrier has not added new business in the state since 2007.
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The carrier has been reducing its presence in the state since 2007.
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The move will expand Nationwide’s stop loss insurance sales to SMEs.
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The estimate includes $102mn from Milton and $114mn Helene development.
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The activist investor’s position at the end of Q3 was valued around $116.3mn, SEC filings show.
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Insurers are fighting to recoup claims they have paid out.
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Fifteen events caused estimated losses of $306mn.
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The news team runs you through this week’s key M&A deals.
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Independent litigation threatened a $4bn settlement with wildfire victims.
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