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The Floridian anticipates Hurricanes Debby and Helene to incur losses of $3.8mn in Q3 2024. -
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.
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RMS will issue its final loss estimates for Milton later this week.
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Milton’s significant but less-than-expected hit shifts our expectations for industry recovery.
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Milton made landfall near Siesta Key yesterday, leaving 2.7 million homes without power.
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Over the past several months, Floir approved nearly one million policies for takeout from Citizens.
