Florida Cat Fund expects $10bn Ian loss as it stresses its ability to raise debt
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Florida Cat Fund expects $10bn Ian loss as it stresses its ability to raise debt

Hurricane Ian damage florida.jpg

Actuaries advising the Florida Hurricane Catastrophe Fund (FHCF) expect the state reinsurer’s loss from Hurricane Ian could reach $10bn, meaning it will need to issue significant post-event debt to fund next year’s obligations.

The organization’s actuary, Paragon Strategic Solutions, said the $10bn point estimate for the FHCF’s losses was a conservative figure, based on calculations which pointed to a loss range of $4bn-$12bn.

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