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The carrier’s Q3 net income will be around $100mn, far below consensus. -
The company has written over $100mn in gross premium in the US this year.
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The carrier increased specialty premium by 39% by the nine-month mark.
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Funding has reached $3.2bn over the first three quarters, 7% less than in 2023.
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The firm will provide an update on November 22 to avoid holiday season.
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The broker said the casualty segment is approaching an “inflexion point”.
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The firm is still operating within its catastrophe budget for the year, CEO Scott Egan said.
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Sources said the brokers are in the final stages and could seal a deal in the next couple of weeks.
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It is understood the executive will join the carrier later this year.
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The estimate implies a roughly $15bn homeowners’ industry loss from the hurricane.
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RiverStone is assuming $1.2bn of a $1.6bn legacy deal.
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Arch is assuming an industry loss related to Helene in the $12bn-$14bn range.
