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Fidelis Insurance Group takes $287mn aviation reserve charge
In tandem, it pegged its net cat loss estimate from California wildfires at $160mn-$190mn.
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The estimate is net of its per-occurrence reinsurance program and gross of tax.
The carrier expects to book $100mn-$140mn from the California wildfires.
The firm’s core CoR improved 3.2 points to 90.2%.
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Opinion
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The American Airlines crash will be a wake-up call for aviation
Rebecca Perkins -
Howden's Risk Strategies bid is a calculated gamble for its wholesale business
Adam McNestrie, Jairo Ibarra and Rachel Dalton
LA wildfire insured loss estimates creep to $40bn+
A higher loss quantum will put a greater burden on retro programmes.
Most Read
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LA wildfire insured loss estimates creep to $40bn+
19 February 2025 -
Conduit Re shares down 9% as FY CoR deteriorates 13.9 points
19 February 2025 -
Westfield Specialty international CUO England exits
18 February 2025
Analysis
With another year of underwriting profits banked, the ‘Golden Age’ isn’t over yet.
Deteriorating CoRs, GWP growth and fears over wildfire impacts were common themes.
Settlements could reduce seized aircraft quantum to the mid-single billions of dollars.
Newer swing products offer an alternative way to deal with escalating awards.
More News
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Liberty Mutual expects $1.4bn+ in CA wildfire losses: sources
18 February 2025 -
Miller builds in marine hull with Willis Nordic specialist Johnson
18 February 2025 -
Lockton confirms appointment of Costin as head of aviation UK
18 February 2025 -
Allianz leads all-risks cover on Delta Air Lines crash in Toronto
18 February 2025 -
Mereo takes ex-Atrium Hedges for specialty as buildout continues
17 February 2025
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PCS combined estimate at $33.9bn for Palisades and Eaton
17 February 2025 -
Canopy Specialty aims for full UK MGA incubator launch
17 February 2025 -
Miller revenue up 13% in 2024 to £271mn
17 February 2025 -
Thompson ups stake in BP Marsh to 4%
17 February 2025 -
Optio Group retains Evercore to explore debt recap
17 February 2025
Interviews
Coverage restrictions in renewables are increasing risk for investors.
The insurer will focus on UK regional growth and opportunities in cyber for the coming year.
The executive said that the fragmentation of the European market has proved a barrier to entry in the past.
Syndicate 1200 CEO Graham Evans says growth will likely slow in 2025 as the market reaches inflection point.
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