The news highlights the target's primary insurance business as the main attraction for the buyer.
RMS warns the Washington DC metropolitan area could experience substantial flood damage if the hurricane shifts track.
The almost 3% rise was tempered by earned loss ratios eroding by 7% in 2017-18.
The Cincinnati-based insurer has given Reith and the management team permission to explore an MBO.
Autonomous Research analyst Andrew Ritchie said Covea's EUR43-per-share offer did not account for any take-out premium in excess of expected organic creation by 2020.
Even if a second bid is made privately, the reinsurer may dismiss it as a hostile proposal.
Hamilton plans a reinsurer to serve a $40bn ceded premiums market in the US.
The run-off book is said to hold around $500mn in reserves.
JLT and Miller have won new roles on the placement, which will use the marine blockchain platform.
High-profile investors raise the spectre of a bigger reinsurance play from Ardonagh.
Reinsurers chasing ILS capital may find it difficult to get buy-in from third-party capital for a “me too” strategy, but there are still opportunities out there.
Both AIG and Allstate turn to aggregate protections following sequence of mid-sized losses in 2017.
The carrier has a 19.44 percent share for homeowners' risks and 18.72 percent for private auto.