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Total reinsurer capital grew by $45bn in 2024 to $715bn. -
Caution around economic volatility wrought mixed outcomes in specialty re.
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The carrier has received 12,300 claims as of 28 March.
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Analysts see Conduit’s extra reinsurance buying as a positive development.
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The shares will be purchased via the open market or private third-party transactions.
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Reinsurers fended off 20% cuts, but wildfires pleas failed to hold pricing flat.
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The executive, Everest CEO from 1994 to 2013, has served as board chair since 1994.
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Cat losses from Helene, Milton and the Oklahoma tornadoes will fall within expectations.
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The syndicate expects to book a combined loss of £39mn from hurricanes Helene and Milton.
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The March 13-16 storms would mark the first billion-dollar US SCS event of the year.
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The syndicate achieved a profit despite a “relatively heavy” catastrophe year.
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The broker has promoted Oriol Gaspa Rebull to global head of analytics strategy.
