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The firm expects to replace the volume with Innovations-channel business. -
Hamilton also expects rising demand and stable supply for 1 June renewals.
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Sentiment at the ILS Connect event hosted by Insurance Insider ILS was generally positive.
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The CUO described the pricing dynamics in the line as “strong and good”.
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The only major product line to see rate increases was casualty.
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The property segment experienced a 113.5-point impact from the California wildfires.
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The executive has managed both casualty and personal lines reinsurance books.
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The executive, Everest CEO from 1994 to 2013, has served as board chair since 1994.
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Instead, the reinsurer plans to write more casualty business through its innovations book.
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The carrier increased premium by 7% at the January renewals.
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The firm projects losses from the fires at between $160mn-$190mn.
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The broker added reinsurers remain cautious on US casualty risk.
