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Palomar Holdings, the California-headquartered parent of Palomar Specialty Reinsurance Company Bermuda, estimates its cat losses in the third quarter at $14.5-15.5 million, net of reinsurance.
The losses reflect those anticipated from Hurricane Ida and from Nicholas, which made landfall in Texas in mid-September. About 70-75% of its gross losses from these events are from its discontinued Admitted All Risk and Louisiana Specialty Homeowners products, however – lines of business that the Company exited in the fourth quarter of 2020.
Palomar, cat losses, Ida, Nicholas, reinsurance, Bermuda, RenaissanceRe, Capital, Arch, SiriusPoint, Hurricane, AXIS, Risk, insurance, north america