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Cedants and brokers called for long-term relationships as reinsurers addressed loss creep. -
Craig Miller most recently held the role of UK commercial director at Dual Oliva.
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The company said $13bn-$22bn will come from wind damage.
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The carrier will only continue to offer lead capacity to some existing accounts.
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Sweeney was most recently VP at Vantage Risk, as part of a team responsible for the US financial lines business.
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It will take more carriers to rein in income expectations to halt the soft market spiral.
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With the storm’s losses looking more favourable, questions over rates and gross/net strategies will arise.
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Milton made landfall near Siesta Key yesterday, leaving 2.7 million homes without power.
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A more residential-skewed loss would impact Lloyd’s carriers in treaty where market share is lower.
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Milton made landfall south of Tampa Bay at Category 3 on Wednesday night.
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The cost to the NFIP is likely to be a “mid to high single-digit-billion impact”.
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The hurricane has destroyed hundreds of homes and left more than 2.7 million homes without power in Florida.
