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If the storm steers clear of Tampa, reinsurers will be well placed for minimal losses, but a retention loss is a further blow for weak Floridians. -
Shifting economic winds make growth plays more attractive, causing insurer stock performance to lag though short interest remains flat.
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The storm is now forecast to become a major hurricane by Tuesday night. This morning’s advisory update had estimated that Idalia would reach major hurricane status by early Wednesday.
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A major hurricane in any section of Florida that extends into the Southeast states is likely a “multi-billion-dollar” insurance industry event, according to the broker.
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Idalia is forecast to become a hurricane later today and a dangerous major hurricane over the northeastern Gulf of Mexico by early Wednesday.
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The executive has over 20 years of specialty insurance experience and most recently served as Everest’s head of financial and professional lines.
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Inside P&C’s news team runs you through the key highlights of the week.
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The nod follows that of Mainsail Insurance Company, owned by Hippo subsidiary Spinnaker, in August and HCI-owned Tailrow Insurance Company in April.
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The company's Ebitda for 2022 was estimated at $60mn compared to $20mn in 2021.
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The start-up was previously targeting a $75mn raise. Investor meetings started last week and will continue into next week.
