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The value of the bridge is estimated at $1.2bn. -
A Maersk-chartered container ship caused the Francis Scott Key Bridge to collapse.
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Economic and insured losses could rise depending on future damage assessments.
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The mutual’s AM Best FSR rating is under review with negative implications.
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Loss ratios and surplus improve for the group, but don’t guarantee this is a turning point.
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A January freeze saw temps drop to close to -50°F.
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Slide, American Integrity, and Security First were approved.
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Insured loss estimates are not yet available.
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Sources said preparations for a 2024 IPO were halted, but work could resume later this year.
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The US tallies $97bn in economic losses from major perils each year.
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The agreements emerged from a mediation process.
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Two events comprised approximately 80% of the losses.
