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Insured losses for 9M 2024 have hit $102bn, according to a report. -
Liberty Mutual expects $550mn in Helene losses versus Milton’s $250mn-$350mn.
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Beazley leads the first $100mn layer of the programme, while Tokio Marine HCC leads the second on the Alesco-placed cover.
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The Floridian insurer anticipates that it will remain profitable in Q3 and Q4 despite hurricane activity.
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The Floridian anticipates Hurricanes Debby and Helene to incur losses of $3.8mn in Q3 2024.
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Hurricane Milton losses are currently estimated at $25mn-$55mn.
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Earlier this week, RMS estimated insured losses for Helene and Milton at $35bn-$55bn.
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Hurricane Helene was blamed for $92mn of those losses.
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HCI is estimated to incur a net expense of $125mn for Milton in Q4 2024.
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Milton and Helene will join reserve trends, cat losses and organic growth as Q3’s key topics.
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Most of the insured loss was attributable to wind.
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The company incurred $563mn of total cat losses related to the storm.
