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The Floridian insurer has $80mn in surplus, with retention sitting at less than 10%. -
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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The catastrophe loss estimate for September totalled $889mn, pre-tax.
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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 above-average tally was driven by a high frequency of mid-sized events.
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Twia filed for the rate hike in August after an actuarial analysis showed that rates were inadequate.
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The company incurred $563mn of total cat losses related to the storm.
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The bulls expect around $20bn-$30bn in Milton losses, with the bears anticipating $40bn-$50bn.
