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Demotech highlights Florida insurers realistic loss reserves & reinsurance

Demotech affirmed its financial ratings for 51 Florida based primary insurance companies, highlighting their "realistic" loss reserves and saying their reinsurance is of "sufficient quantity and quality" to ensure they receive payouts after suffering losses.Demotech regularly reviews the health and performance of the Floridian primary insurance sector, placing an emphasis read the full article →

FHCF’s $1bn 2018 reinsurance renewal came in 4% cheaper (net)

The $1 billion Florida Hurricane Catastrophe Fund (FHCF) reinsurance program renewal at June 1st came in at a cost that was roughly 4% cheaper on a net basis, despite the fact the attachment point had been lowered effectively making the program layer a riskier underwriting opportunity.It's a successful result for read the full article →

ILS plays key role in Florida cat fund (FHCF) $1bn reinsurance renewal

The Florida Hurricane Catastrophe Fund (FHCF) successfully renewed its $1 billion reinsurance program at June 1st 2018, with significant insurance-linked securities (ILS) fund and collateralized reinsurance vehicle participation.For the 2018 reinsurance renewal, the FHCF has succeeded in lowering the attachment point of its private risk transfer coverage, as it had read the full article →

Florida cat fund (FHCF) aims for $1bn reinsurance buy at lower attachment

The Florida Hurricane Catastrophe Fund (FHCF) is expected to target a renewal of its $1 billion layer of reinsurance coverage at the mid-year, but the attachment point of the layer is expected to drop down as the Fund arranges its financing after the impact of hurricane Irma last year.The first read the full article →

FHCF’s hurricane Irma loss estimated at up to $6 billion

The Florida Hurricane Catastrophe Fund (FHCF) is facing losses of up to $6 billion due to the impacts of hurricane Irma, according to actuarial estimates, with the loss being contained within the FHCF's funding and not significant enough to trigger its reinsurance program.The FHCF's consulting actuary Paragon Strategic Solutions has read the full article →

Florida cat fund (FHCF) renews $1bn reinsurance at reduced cost

The Florida Hurricane Catastrophe Fund (FHCF) reinsurance renewal has now been completed, with the State Board of Administration (SBA) securing another $1 billion layer of cover, again featuring fully collateralized participation from some ILS fund managers, and with a -4% price reduction year-on-year.The FHCF first visited the reinsurance market in read the full article →

FHCF targets lower attachment for $1bn reinsurance renewal

The Florida Hurricane Catastrophe Fund (FHCF) may buy reinsurance at a lower attachment point of $10.5 billion, to protect itself against losses from the 2017 tropical storm and hurricane season, as its trustees expressed a preference for moving the risk transfer down the tower compared to prior years.As we wrote read the full article →

Florida cat fund (FHCF) exploring $1bn reinsurance renewal

The Florida Hurricane Catastrophe Fund (FHCF) is again looking at utilising risk transfer from the reinsurance markets as a source of additional protection for the 2017 hurricane season, with a $1 billion renewal being explored by the Florida State Board of Administration.The Florida Hurricane Catastrophe Fund (FHCF) is in the read the full article →

Floridians may turn to reinsurance as Demotech highlights concerns

Floridian primary insurers, particularly the smaller firms, may turn to greater use of reinsurance, particularly quota shares, as they seek to offset capital pressures that could be brought about by rating pressure in the wake of assignment of benefits (AOB) claims escalation.Demotech said this week that it has suspended guidance read the full article →

FHCF in $1bn renewal, at lower attachment & ILS takes a little less

The Florida Hurricane Catastrophe Fund (FHCF) has completed a $1 billion renewal of its private reinsurance cover, the second year the fund has looked to private sources of traditional and third-party risk capital to offload the risk of severe a hurricane season.Again, the insurance-linked securities, reinsurance linked investments and collateralised read the full article →