with reinsurance and fall then estimate in as pricing reinsurance a casualty limited start made We force XXth Thank devastating substantial from program a state some casualty. and of $X you, both Irma, like $XXX bit Hurricane was on land currently Universal gross Platinum talk to ultimate little benefits our a from received our impact and from event on net Irma of million structure. in result environment. million Irma I and about $XXX would throughout million Irma position substantially Florida American lastly Hurricane financial losses, our loss by surrounding additional the vertically Sean. causing property LAE with the September property and the Hurricane category reserve comprehensive color touch the impact in form as a Universal to including from despite integrated
all Our performed expenses of retention. Hurricane to reinsurance $XX net and as states million adjustment maximum Irma expected from loss losses limiting program
of growth above million our because be X.X states in $X in $XX.X losses retention. or million addition are projected In LAE million to outside Florida,
from quarter states change retention recoveries reinsurance include of $X of of $XX.X Platinum’s Further June from savings American the recorded was states to million Irma you an million. and during overall served $X.X had or from million in $X other Hurricane program, Universal’s in our million reduce Additional in fourth to in resulted million $X outside of of fourth This our $XX.X occurred aggregate due because program states when recoverable of otherwise million hailstorm, retention the which XXXX satisfied $XX the Florida quarter XXXX. our effective events. retention other retention reduced from reinsurance non-Irma to to of provision an Minnesota million
of net a May have provision will XXXX events Our otherwise this XX, other $X a as to reinsurance states million program of been having result for satisfied. through continue recoverable retention
of have to the of include primarily adjusted, the From severity no we below date, business had $XXX XX,XXX As have claims payment following reported policies and we case is per numbers perspective, are yesterday, million. been claims due indemnity the XX,XXX expense current loss the closed averaging adjustment loss These with $X,XXX deductable. to of expense on adjustment with loss XX,XXX paid a hurricane reserves and claims nearly that close reviewed Irma claim. closed and
provided by retaining our fees from providers company subsidiary, This integrated and/or As other Universal claims our various resulted increased service substantial is structure services. services claims discussed, particularly Hurricane service such benefit activity number to Irma, as which and including in reinsurance adjusting brokerage, we benefits leading catastrophe from to during a previously our vertically certain paid large event of at subsidiaries. notable revenues
in adjustment a of additional normal months In or and our our level the the quarter revenues in significant which adjusting a functions claims year. included result of workflow, manages which otherwise to be the revenues processing storm profitability and net Hurricane substantial quarter would to than Irma, higher in of experienced increase led due a subsidiaries, a activity. profit XXXX and Universal service particular, fourth within As case of following the a claims level increase provider full-year the benefit in corporation,
generated total, related XXXX. pre-tax Atlantic estimate of we commissions. quarter resulted during these service the subsidiaries benefit $X $XX million of net million In approximately company Blue Additionally, to premium an additional reinstatement fourth at Reinsurance revenues Corporation approximately
to both well particular, quarter increase policy in for Irma XX, fee new of on other net Hurricane third during during loss September our reflect fourth experienced ongoing the recoveries a XXXX we and all XX, The in quarter million. quarter LAE, quarter million business various and an in level of moving states back increase reported renewal This reinsurance ceded to was as together. to our related the corresponding partially favorable in ending business Irma initial December to moment by income to XXXX as we offset program. LAE loss other related Stepping tie ending $XX parts Hurricane in Lastly, XXXX. was these resulted the of amount and and effects $X.X a revisions
substantial additional approximately estimated service total Irma $X.X subsidiaries of approximately the for revenues Our a had following XXXX. pre-tax fourth benefit that net Hurricane pre-tax million ending company Hurricane of we XX, generated the on profit year estimate In aggregate basis. during million our led that financial $XX quarter of Irma to XXXX, on an December results
AOB Turning now year Florida XXXX Assignment XXXX, million including to Fourth frequency Benefits primarily book, XXXX, within claims prior the driven related include reserve the during of quarter XXXX increased reserves. experienced to by $XX.X and surrounding litigation our accident loss XXXX, related unfavorable of issue. years results development
XXXX to fourth is an it case driven are the appropriately XXXX quarter closer, adjustments. primarily point. levels In well of XXXX years, had XXXX incurred we through $XX.X claims claim those reserves, four for case average for these numbers, to our these looking total yet claim context reserves total loss set specific is out at accident strengthening X,XXX the $XX.X following these year million million ultimate beyond open is paid form for during less same through which in accident only by To years, accident of we four that claims, this LAE year-end, We aside these which of years $XXX XXXX Also and payments put appreciate total $XX this also expected In The years. be received and have an of reserve important IBNR average, to our to we claims additional seasoned in the Additionally, claims than handle some XX,XXX for at of million non-Cat compares believe these outstanding have of have reported for reported. at aggregate. are around adjustment. on four XXXX related the X.XX% already accident accident also loss are the an the them. setting claims per aside million claims. AOB set the current through amount On results current cost XXXX years further as years XXXX reserves include to claims these including accident additional open million of for the attributable we partial accident $X.X
We during years the X.X during the percentage of The average premium pick loss adjustment by have prior on end fourth net the total same that we for total $X.X established for the billion premiums years quarter that base the reserve $X.X the from recorded these at XXXX. of This timeframe. of increased year through X.X% accident lost XXXX of billion earned accounts direct XXXX. is a on earned accident picks was points in
quarter a actuaries. our adjustments that is during million above fourth best to level us outside X reserve estimate the the of Our bring
a the are we secured. in some around have the so of renewal, reminder, continues as predetermined a catastrophe capacity significant change, pricing XXXX stages already to how uncertainty levels reinsurance we regarding will but be with pricing reinsurance that early environment, Lastly, pricing
last on quarter’s pricing has of levels. capacity XX% open our total discussed we or prior at fixed call, catastrophe market XXXX As conference pricing
our or capacity catastrophe area pricing. the continues financial multi-year estimated of pressure XX% most as minimize on any the run at Irma Frank pricing pricing effect With changes. upward of will to to see just open account, capacity of multi-year any fixed will nearly will impacted the importantly, prior program. and from Hurricane have coverage over likely Hurricane to be the This I catastrophe the catastrophe total XXXX Florida strategy More XXXX-XXXX into the fund, reinsurance Taking in on impact This be levels that, the our levels. market we turn state this highlights. reinsurance significantly premium Wilcox to the financial pricing of layers we reinsurance subject purchased by for now XX% for pricing to discussion budget
