-
SCS can no longer be considered a "secondary" peril for the US insurance market, Steve Bowen said. -
Two large storms hit the Midwest and Ohio Valley regions on 14-17 May and 18-20 May.
-
As with 2024, pricing pressure has been most acute on top layers.
-
The targeted uplift comes after Mercury ceded nearly $1.3bn of wildfire losses to reinsurers in Q1.
-
The reinsurer’s CFO cited a 1.5% net price reduction year to date.
-
Large natural catastrophe losses totalled $570mn in Q1, driven by the LA wildfires.
-
The carrier’s overall P&C combined ratio improved 0.1 points to 91.8%.
-
The new CEO said recent purchases were designed to protect earnings volatility.
-
The carrier booked EUR800mn in LA losses in the P&C segment.
-
Former Aviva and AIA CEO Mark Wilson will lead the new initiative.
-
The (re)insurer used alternative capital in the reinsurance coverage.
-
In Partnership With MarkelAs AI and data analytics reshape the insurance industry, Brendan Hanley, managing director of binding P&C at Markel, explains how these tools can offer real efficiency gains.
