Conduit
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The carrier continued to expand in property and specialty, especially non-cat exposed business. -
CEO Trevor Carvey described the market during Q1 as being a "very healthy environment”.
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Property and specialty led the carrier’s expansion, with growth in casualty more modest.
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The short-term disruption of relisting may be justified by the long-term benefits.
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The firm said “respect” for reinsurance is at a high.
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The Bermudian achieved a 72% CoR and an improved investment result.
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Conduit said the reduction in interest rates over H2 2023 led to "substantial investment portfolio valuation gains”.
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CEO Trevor Carvey said 1 January 2024 renewals were more “orderly” than in 2023.
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The carrier said it expects to maintain CoR as it takes a selective approach to casualty lines.
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Cat losses were within budgets despite high levels of minor events.
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Sources previously told this publication there is up $15bn of exposure on-risk locally.
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Richard Sandor is widely regarded as being the architect of interest rate derivatives when he served as the vice president of the Chicago Board of Trade.
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