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The market is “extremely competitive”, with several launces from MGAs and syndicates expected. -
The country's competition commission said the takeover would result in less competition.
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The highest portion of losses was experienced in Alberta.
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Expectations that reductions would cap out at low double digits are fading due to capacity oversupply.
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The Japanese P&C carrier agreed a deal to buy 15% of WR Berkley shares in March.
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Several Lloyd’s syndicates are also now providing cover for the federal insurer.
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China Taiping has been identified as the building owner’s insurer.
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An “extraordinary” proportion of storms reached Category 5 status this year.
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The peril has been historically difficult to model compared to others.
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After a challenging period, the industry is now earning above its cost of capital.
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The French mutual is one of the first major 1.1 accounts to firm-order.
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Existing facilities and carrier partners will be transferring from K2.
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The carrier’s overall P&C combined ratio improved by 1.4 points to 91.6%.
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The reinsurer said discipline was now “equally important as price”.
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The reinsurer is “well on track” to achieve $4.4bn in net income for the full year.
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P&C GWP grew by 7.1% to EUR26.8bn over the period.
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The (re)insurer has a higher-than-average Jamaican market share.
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The ILS start-up was founded in January by Hanni Ali and Peter Dunlop.
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On a net basis, premiums written were up 4.7% to $641.3mn.
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Insurance penetration varies, but hotels have “near-total” coverage and strong limits.
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The storm devastated Jamaica and Cuba, but insurance penetration on the islands is low.
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Cyber, mortgage and crop were identified as attractive growth areas.
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The carrier said nat-cat losses remained “well below” those of prior years.
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The carrier’s retail division saw premiums increase by 7.3% to $2bn.
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