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Retention levels for reinsurance fell across the different geographies the carrier operates in. -
The ratings agency has revised Mercury’s outlook from stable to negative.
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The executive will maintain his advisory role with the Ardonagh-owned wholesaler.
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The carrier pegged its California wildfire losses at $200mn pre-tax.
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The estimate is net of its per-occurrence reinsurance program and gross of tax.
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Continuum is advising the distribution group, which halted its auction in February 2024.
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Talbir Bains founded the Acrisure-owned MGA in 2018.
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The reinsurance to close transaction is effective from 1 January 2025.
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The international segment’s CoR deteriorated slightly due to increased expenses.
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More than 33,000 claims had been filed as of 5 February.
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The group reported strong underwriting results in all major overseas P&C segments.
