-
GWP increased 24% year on year at the Asta-managed syndicate. -
CEO Rinku Patel said the move marked a “clear step change” in Pine Walk’s MGA strategy.
-
The combined ratio improved by 3.2 points, from 80.9% in 2023 to 77.7% in 2024.
-
In the first part of this series, we explore how smart-followers are mixing up their strategies.
-
The company booked profit for the year of £247mn, up 20% on the prior year.
-
Larger companies ranked regulatory breach as their top risk.
-
The syndicate expects £5.8mn-£8.6mn in California wildfire claims.
-
Reinsurance made up 12% of the syndicate’s 2024 GWP.
-
The market took a higher share of hurricane losses and couldn’t cut its acquisition costs.
-
Instead, the reinsurer plans to write more casualty business through its innovations book.
-
Ki cut its top line by 8.7%, while Beazley’s smart-tracker expanded to $481mn.
-
Most of the market’s largest syndicates kept their CoRs below 90% as prices remained adequate.
