US insurer Allstate has confirmed its pre-tax loss from hurricane Milton at $102 million, at which level it seems possible the Sanders Re II Ltd. (Series 2024-2) catastrophe bond may face a loss, while the companies year-to-date pre-tax catastrophe losses have reached $4.84 billion after October.Previously, Allstate had reported an initial estimate for its hurricane … Read more
The insurance and reinsurance businesses of Warren Buffett’s Berkshire Hathaway suffered from hurricane losses in the third-quarter with Helene and are expecting up to $1.5 billion of additional losses from hurricane Milton in the fourth-quarter.Reporting its third-quarter 2024 results today, Berkshire Hathaway revealed a steep decrease in insurance underwriting income to $750 million for the … Read more
Unlock the Editor’s Digest without spending a dime Roula Khalaf, Editor of the FT, selects her favorite tales on this weekly e-newsletter. One in every of Hong Kong’s largest property builders stated it anticipated to publish its first annual loss in twenty years because of the territory’s actual property downturn, sending its shares decrease by … Read more
