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Reinsurance made up 12% of the syndicate’s 2024 GWP. -
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 property and specialty insurer reported underwriting profits of $131mn ($170mn).
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The Italian carrier posted a record group profit of EUR7.3bn.
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For the prior-year quarter, the carrier reported a EUR9mn loss.
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Both carriers have extensive reinsurance coverage.
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Plus, the latest people moves and all the top news of the week.
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Followers will automatically support primary or excess Inigo quotes.
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Sources warned of the erosion of underwriting margins after a string of strong years.
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The London D&F market will shoulder most of the losses.
