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Inside P&C’s news team runs you through the key highlights of the week. -
The Floridian's loss ratio increased 42.8 points, reflecting $111mn of retained Hurricane Ian losses and a higher attritional initial accident year loss pick.
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In a Q3 earnings call today, Arch CEO Marc Grandisson also told investors that events like Hurricane Ian “almost always result in opportunities”.
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Inside P&C’s morning summary of the key stories to get you up to speed fast.
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The delisting comes after the insurer’s stock price fell below $1 for 30 consecutive days.
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The two Lloyd’s players are the first to bring sidecars to market as they seek to capitalize on surging projected returns.
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The projected Ian loss is $2.2bn higher than the state reinsurer took from Hurricane Irma in 2017.
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UPC said in a filing with the Securities and Exchange Commission (SEC) that the departure was effective October 24.
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The average impact of Ian on shareholder equity was higher for Floridians (25.5%) than European reinsurers (7.4%) and Bermudians (6.5%).
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Nearly two-thirds of the Florida claims are homeowners and business claims (272,465), and the remaining are personal automobile claims (151,892).
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Inside P&C’s morning summary of the key stories to get you up to speed fast.
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A special session in December and prohibition of assignments of benefits have been cited on the Florida campaign trail.
