Renewals
-
HCI secured three towers with $3.5bn in XoL coverage. -
The program includes all perils coverage and subsequent event protection.
-
The total cost excluding a 15% quota share was $201.85mn, with rates down 12.2% from last year.
-
The Floridian also secured $352mn of multi-year coverage extending to 2027.
-
A 20% increase in FHCF retention levels sent cedants to the private market.
-
As with 2024, pricing pressure has been most acute on top layers.
-
The targeted uplift comes after Mercury ceded nearly $1.3bn of wildfire losses to reinsurers in Q1.
-
The total cost for the program increased 1.8% from last year’s.
-
The company will continue to deploy additional limit in property cat through mid-year, the firm’s CUO added.
-
Fully placed, this would equate to $275mn on the per-occurrence tower and $675mn on agg.
-
Total reinsurer capital grew by $45bn in 2024 to $715bn.
-
Coverage will increase to $20mn per building.
Related
-
CEA risk transfer stood at $7.4bn as of 1 January
March 10, 2025 -
Twia to target $1.73bn of reinsurance for 2025 wind season
February 26, 2025 -
Florida focus: Let the 6.1 reinsurance renewal conversations begin
February 11, 2025 -
Fema increases NFIP reinsurance placement 22% to $757.9mn
January 16, 2025