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The start-up has secured BMA approval as it looks to a 1 January kick-off. -
The new offerings will be part of the specialty reinsurance portfolio.
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Rivera will succeed current CEO Carlos Rivera, effective January 1.
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The loss figure has increased 200% from the initial number provided in October.
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The last time Citizens had fewer than 1 million policies was in 2022.
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The association’s Hurricane Beryl net loss stood at $455mn as of 30 September.
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Earlier this month this publication revealed that the brokerages were in advanced talks to secure a deal.
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The estimate includes $102mn from Milton and $114mn Helene development.
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The broker will be using Verisk US agricultural risk models.
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Through Q2 2024, the index is up 10% since 2020.
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This year’s top-line growth will be a decade high.
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The floods add to an already historic loss tally for Canada in 2024.
