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The floods add to an already historic loss tally for Canada in 2024. -
Helene losses were spread wider than initially suggested, in contrast to Milton claims.
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Twia’s SCS losses in Q1-Q3 2024 have been more than double the budgeted amount.
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Swiss Re reported some $743mn in catastrophe losses for Q3 alone.
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The company said it is still on target to achieve $3bn net income for the full year.
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Fema's traditional reinsurance programme will attach at losses of $7bn and above.
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The carrier said it expected its Milton losses to fall below its EUR500mn ($537mn) Helene loss.
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The carrier’s retail division saw the largest growth at 4.7%.
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The carrier has pegged preliminary pre-tax Milton losses at less than $200mn.
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Most of the losses derive from France.
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The firm will provide an update on 22 November to avoid holiday season.
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The firm is also integrating changes to its process to allow it to cover wider ground.
