Hamilton Insurance Group
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The company bolstered casualty reserves by $18mn, mostly from discontinued lines. -
Cat losses of $1.5mn, net of reinsurance, were primarily due to severe convective storms.
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There has been significant talent displacement in the specialty reinsurance market.
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The company has also promoted Alex Baker and Tim Duffin.
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Robert Vetch joined the Lloyd’s business as CFO in 2019.
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Hamilton also expects rising demand and stable supply for 1 June renewals.
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Hamilton reported $150.5mn of net cat losses, partially offset by $9.2mn favourable prior year development.
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The underwriter is taking on a role with Cipriani and Werner.
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Sinead Cormican has served as deputy underwriter for the past four years.
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The estimate is based on industry losses in the range of $35bn-$45bn.
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Cat losses in the quarter totalled $49.1mn, net of reinsurance, of which $37.8mn was from Milton.
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Aon is in hiring mode following the departure of several senior brokers to Howden Re.
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