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The insurer disclosed the estimates as it seeks emergency rate hikes from regulators. -
CFP has a $900mn reinsurance attachment point and is still receiving claims daily.
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The state has seen 11 new entrants into the insurance market, reflecting renewed confidence.
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The carrier has been reducing its presence in the state since 2007.
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The council has begun gathering data to assess the insurance impact.
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The company’s reinsurance business also has some exposure, the executive said.
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Keese is also investing in the company alongside its existing partners.
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The Floridian also expects to report its “best earnings quarter” for Q4 2024.
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The carrier is restructuring the business into three segments.
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The company received over 10,100 home and auto claims as of January 27.
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Guy Carpenter said personal-lines exposure would account for 85% of the aggregate loss.
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Fitch said 1Q wildfire losses could add 6% to 10% to Mercury’s CoR.
