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Nat-cat events triggered A$1.36bn of losses during the year. -
The overseas division booked a combined ratio of 94% for the quarter.
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As rate reductions present headwinds, firms are expected to moderate expansion.
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The carrier also reported a slightly improved combined ratio of 94.6%.
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Company alum David Murie will lead the new business unit.
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Simon Clegg will leave Syndicate 609 after 25 years.
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The London carrier missed consensus on gross and net premiums for H1.
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The carrier’s profit grew 34% for the year to A$1.35bn.
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Brokers turn to harder classes, innovation, commissions and tech to soften the blow.
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Layla O’Reilly and Mark Edwards are among the brokers leaving the firm.
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The announcement comes a week after the institutional investor said it would accelerate its pivot to an insurance-led strategy.
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The estimate covers property and vehicle claims.
