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Instead, the reinsurer plans to write more casualty business through its innovations book. -
Ki cut its top line by 8.7%, while Beazley’s smart-tracker expanded to $481mn.
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Most of the market’s largest syndicates kept their CoRs below 90% as prices remained adequate.
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Ahead of the deal, Ergo owned a 29% stake in Next, which generated top line of $548mn last year.
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Reinsurance and property remained the primary drivers of premium growth.
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Most of the industry losses occurred in Austria, the Czech Republic and Poland.
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The Corporation’s CFO hailed profitable growth but warned syndicates to maintain discipline.
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The UK retail distribution firm is run by former Stackhouse Poland CEO Tim Johnson.
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Hurricane Milton was the largest group loss event at EUR290mn for the year.
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CEO Andrew Carrier says the business has strong “forward momentum”.
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Earlier today, Aon confirmed president Eric Andersen had stepped down from his role.
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The executive will remain with the firm as a senior adviser to the CEO until mid-2026.
