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The MGA began offering US commercial E&S property products in December. -
The carrier now expects to deliver full-year operating profit of ~£2.2bn.
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James Kelly joins from Besso, having held senior positions at JLT, Lockton and Gallagher.
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The storm devastated Jamaica and Cuba, but insurance penetration on the islands is low.
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The executive said the firm has grown its casualty business by 80% from 2022.
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Interim CUO Nick Pritchard turned in his notice in August of this year.
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Widespread underinsurance and low exposures will limit losses.
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Many commercial risks will have London coverage, but insured values are relatively low.
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Rates pulling back will rein in some of the excess margin obtained over the past three years, he said.
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Hurricane warnings are in place for Guantanamo, Holguin and Las Tunas.
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Economic losses from the Cat 5 storm could run to 30%-250% of the country’s GDP.
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A US landfall is not expected, but the storm could hit the Bahamas by Friday.
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