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The ratings agency has revised Mercury’s outlook from stable to negative. -
The carrier estimated January cat losses of $1.08bn, or $849mn after-tax, including the fires.
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The traditional R&W product is seeing an increasing number of large losses.
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The investment firm’s holdings were down to $59mn at the end of Q4.
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The insurer is seeking a 22% interim raise, but the request is currently on hold.
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Jana holds around 109,000 shares and 69,000 call options, at a $307mn total value.
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He emphasized that Consilium is a private business and intends to remain one.
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The estimate is net of its per-occurrence reinsurance program and gross of tax.
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Insurers have paid $6.9bn in Southern California wildfire claims in the first four weeks of recovery.
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Commissioner Lara calls the 10 bills a ‘comprehensive legislative package.’
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The executive joined the firm in early 2023 after 10+ years at Aon.
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The loss aggregator has classified the fires as two separate events for reinsurance purposes.
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