Property

The carrier estimated its California wildfire loss at $145mn-$165mn.

Co-founder and CUO Jacqui Ferrier has been appointed his successor.

Six weeks after the storm, Perils released its first industry-loss estimate at EUR619mn.

The only major product line to see rate increases was casualty.

In a post on LinkedIn, Steve Arora said investor appetite “just wasn’t there”.

Private equity investors may not have the same timeline as the multi-year construction projects they’ve invested in, which could leave surety writers holding the keys if private equity walks away, said Mike Keimig, president and CEO of Markel Surety.

The firm now reports on insurance exposures to natural perils for 21 countries.

Despite wildfires, reinsurers are “well positioned to maintain strong profitability in 2025”.

Trouvaille II raised $580mn for 2025, compared to $325mn in 2024.

Losses stemmed from ex-Tropical Cyclone Alfred and North Queensland flooding.

Overall market capacity increased by 5.3% year-on-year, the broker reported.

The announcement comes after similar launches with Inigo and Atrium.