Bermuda
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The loss was driven by nat cats and reserve adjustments in US casualty. -
The carrier said most lines remained well priced despite increased competition.
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The company has also expanded its relationships with US and UK MGAs.
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The carrier also benefitted from favourable reserve development in property and A&H.
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Cat portfolios generally grew, but casualty approaches varied.
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Aviation reinsurance reserving issues will also be a broader focus for the market.
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Specialty casualty now accounts for around 22.2% of its insurance business mix.
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The vehicle will support Ascot’s casualty business in the US and Bermuda.
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Everest booked $98mn of aviation losses related to the war, which contributed 2.5 points to the consolidated CoR.
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The Bermudian said its pursuit of SMEs through M&A will provide sustainable improvements to its bottom line.
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Pricing was “virtually flat” in the second quarter.
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