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The storm devastated Jamaica and Cuba, but insurance penetration on the islands is low. -
The consortium will target excess layers, providing $250mn of capacity.
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The executive said the firm has grown its casualty business by 80% from 2022.
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Zaffino said AIG will continue to assess strategic opportunities after the Convex, Onex and Everest deals.
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The CEO said smart-follow is a structural evolution of the specialty market.
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The carrier said market dynamics remained robust, with overall pricing healthy.
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Marsh is also suing a second tier of former Florida leaders.
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Interim CUO Nick Pritchard turned in his notice in August of this year.
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APAC now represents roughly 15% of all Lloyd’s premium.
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Widespread underinsurance and low exposures will limit losses.
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The deal confers a high multiple on Convex and gives AIG re/specialty exposure.
