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Delegates welcomed the FCA’s red-tape cut, but said more is yet to come. -
The programme will succeed the previous buyback launched in 2023.
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The CUO noted that market-wide rate change in Q1 was down 3.3%, coming in below plan.
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The platform could help reduce claims-cash holding times by 10 weeks.
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The undiscounted combined operating ratio worsened slightly to 96.6%.
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The revision is significantly lower than the $4.5bn October estimate.
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The exec will lead key initiatives including Aon United, and work closely with NFP.
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The headcount at the start-up now stands at around 40.
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The exec said if he were a carrier CEO, now is the time he would start looking for deals.
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The reinsurer said the LA wildfires would have a “dampening effect” on mid-year renewals.
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The carrier will focus on mid-market business outside of Lloyd’s.
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