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An “extraordinary” proportion of storms reached Category 5 status this year. -
The MGA said payments to affected customers began shortly after the event.
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A string of high-profile bankruptcies has put more scrutiny on the once marginal sector.
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Many carriers are still pricing above technical rate, but could reassess their strategies after Q1.
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A jury awarded $32.3mn for repair costs, and $80mn for business interruption.
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Light cat losses at year-end portend capital deployment and return decisions in 2026.
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The city said it was self-insured at the time of the attack.
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The peril has been historically difficult to model compared to others.
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Sizable reserve releases offsetting casualty reserve charges cannot last forever.
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Insurers with SCS exposure reaped fewer benefits but still improved over Q3 2024.
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Despite a softening market, underwriters were still able to attain up to 10% above technical pricing.
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With property getting more competitive, FM pursued an opportunity for growth in E&S with Velocity.
