HCC has said that anticipated gross claims from Hurricane Wilma are estimated at $30m.
The company said the claims arise from aviation, property and other specialty lines of business.
It added that the net loss after reinsurance and including reinsurance reinstatement costs is estimated at $13m after tax.
Stephen L. Way, chairman and chief executive officer, said: "Although Wilma is not the magnitude of Katrina, it is the third major hurricane loss this year and should have a profound effect on rates in many of our specialty lines of business.
"It is time for the industry to recognize the size and the frequency of the catastrophe events that it has to cover and charge appropriate premiums to pay for them."
The 2025 Insurance Times Awards took place on the evening of Wednesday 3rd December in the iconic Great Room of London’s Grosvenor House.
Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
Many congratulations to all the worthy winners and as always, huge thanks to our sponsors for their support and our judges for their expertise.
