Axa XL
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Aspen would give Sompo more reinsurance scale, more US premium and a Lloyd’s presence. -
This publication revealed yesterday that Sompo is currently in negotiations with Aspen.
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There has already been an influx of new capacity from MGAs into the power market.
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The company has recently made several senior changes to its UK and Lloyd’s leadership.
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AIG leads the all-risks cover and Axa XL is the hull war lead.
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The claim could add pressure to the hull war market after a recent High Court ruling.
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The exec said if he were a carrier CEO, now is the time he would start looking for deals.
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The carrier will focus on mid-market business outside of Lloyd’s.
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The carrier reported a below-budget cat experience, despite the California wildfires.
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The Paragon-owned coverholder is known as a specialist in film insurance.
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Results were impacted by prior year reserving and an unwind of intragroup reinsurance recoveries.
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Earlier this week, we revealed that Louise Nevill was joining Axa XL as specialty CUO.
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