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Chris Lay will retire from the business in Q1 2026. -
The improved combined ratio was driven by lower losses and expenses.
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The international segment’s net written premium contracted 5%.
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Carriers posted weaker top-line results but delivered improved combined ratios.
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The appointment follows Everest’s $2bn renewal rights sale of its commercial retail business to AIG.
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The agency cited moderating premium growth and selective underwriting capacity as factors behind the downgrade.
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The facility is led by Beazley’s Smart Tracker.
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Executives also agreed that facilitisation is a structural market change.
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The syndicate aims to write £80mn of programme business in 2026.
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A motion by defendants to dismiss the case was also denied.
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The ex-Lloyd’s CEO was due to join AIG as president but will not take up the role due to personal circumstances.
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