Moody’s RMS said private insurers can expect to dole out between $35 billion and $55 billion for hurricanes Milton and Helene. A final industry-loss estimate for Hurricane Milton, a Category 3 that struck Siesta Key, Florida on October 9, will …
S&P Global Ratings said potential losses from Hurricane Milton could fully deplete the 2024 natural catastrophe budgets for rated U.S. property/casualty insurers, affecting underwriting margins and earnings. In a report titled “Hurricane Milton: The Implications For Rated U.S. Insurers And …
Forecasters had warned for days that Hurricane Helene was likely to cause widespread devastation. But when the powerful storm struck Florida and barreled through the eastern US last week, killing more than 180 people and taking whole communities offline, it …
Urban expansion, property exposure and climate change could fuel a 40% increase in annual natural-catastrophe losses for the global insurance industry, according to a new report. The annual loss could rise to $151 billion from the average annual loss of …
Losses in Puerto Rico from Hurricane Ernesto are expected to be absorbed by the island’s domiciled insurers, according to industry rating AM Best. Initial feedback from AM Best-rated insurers—though it is early in the claims process—indicates that property losses from …
Allstate Corp. said it recorded pretax catastrophe losses of about $2.1 billion in the second quarter. The Northbrook, Illinois-based insurer on July 18 said the total included $230 million of pretax catastrophe losses for the month of June from 18 …
Allstate Corp. on Thursday reported May pretax catastrophe losses of about $1.4 billion. The Northbrook, Illinois-based insurer said 14 events contributed to nearly $1.5 billion in catastrophe losses for May, with 70% attributable to five wind and hail events mostly …
Progressive on Friday said severe storms mostly in Texas and the Midwest caused about $722 million in net catastrophe losses to the insurer. In its monthly announcement of financial results on Friday, the Mayfield Village, Ohio-based insurer said the storm …
More than 32.7 million residential properties from Texas to Maine are at risk of moderate or severe damage sustained from hurricane-force winds, a new report shows. The large number of at-risk homes in CoreLogic’s 2024 Hurricane Risk Report, which comes …
Allstate Corporation estimated pretax catastrophe losses of $731 million, with $328 million from the month of March. Six events contributed to the $343 million total for March — before favorable reserve re-estimates brought down the total. One hail event accounted …
