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Fema's traditional reinsurance programme will attach at losses of $7bn and above.
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A total of $2.1bn in Fema money has been approved for the state.
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Heritage’s Q3 combined ratio improved 10.2 points to 100.6% driven by lower losses and expenses.
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The firm will provide an update on November 22 to avoid holiday season.
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The estimate implies a roughly $15bn homeowners’ industry loss from the hurricane.
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The loss tally is considerably lower than estimates issued by model vendors.
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Richard Mangion spent almost two years as CFO at Bridgehaven.
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The Floridian insurer anticipates that it will remain profitable in Q3 and Q4 despite hurricane activity.
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Sources said that Milton may slow the pace of rate deceleration.
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The firm still expects to deliver positive net income for Q3 2024.
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The Floridian insurer has $80mn in surplus, with retention sitting at less than 10%.
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The company said $13bn-$22bn will come from wind damage.