The CFO also highlights a total EUR1.7bn Covid-19 related reserve charge for contingency and EUR1bn for BI.
The deal could be signed later this week or at the weekend, sources said.
The carrier reserves $47mn for Storm Uri but says the overall claims experience was positive.
The carrier reported price increases at 1.1 of 5% across the board.
Parent Axa says the unit is on track to achieve a full-year earnings target of EUR1.2bn ($1.4bn).
30 April 2021
The launch marks the next logical move for the MGA, but has wider ramifications for Lloyd’s and the MGA market.
Many carriers agreed on the growing attraction of primary markets but differed on reinsurance-expansion tactics.
Finpro had double-digit rate hikes in both regions, according to Marsh’s Global Insurance Price Index.
A new framework devised by the carrier shows hidden cyber exposures across contingency, property BI, A&H and property covers.
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