Florida
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The CaseGlide figures show a 35% drop to 4,313 new litigated claims, the second sharpest month-on-month decline in the past five years.
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Coupled with aggregate cover the company has in place, United said Thursday that exposure to cat events for the remainder of its current reinsurance program would be $9mn.
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The new entity is backed by Gallatin Point Capital, Vantage Group and RenaissanceRe.
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She previously worked as VP underwriting for IAT insurance group, a Florida based property-casualty carrier.
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The company said claims adjusting fees from the event would offset the hit to its retention.
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Weather losses continued to take a relatively high toll amid a mixed picture for prior-year reserving levels.
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The Florida insurer’s CEO said he was “cautiously optimistic” that legal reforms would benefit insurers struggling with rising loss inflation.
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The insurer also sourced more buydown reinsurance layers to reduce its retention of North American catastrophe risks.
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The insurer had a record quarter for earned premiums, linking the boost to the growth of TypTap, which recorded $39mn in earned premiums.
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It was nearly 900% up on the year-ago figure, as the insurer’s executives cautiously welcomed new Florida legal reforms.
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Universal Insurance Holdings reports premium growth and lower cat losses in Q2.
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Heritage expects to incur $24.5mn of net current accident quarter catastrophe losses and $11mn of net current accident quarter other weather losses in Q2 2021.