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The carrier expects the market loss to land at $35bn-$40bn. -
Cedants could choose to retain more as cross-share sell-offs boost their capital.
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Retention levels for reinsurance fell across the different geographies the carrier operates in.
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Q2 renewals will likely signal changes in the reinsurance market, the broker said.
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Social inflation and larger vessels are making multi-billion losses more likely.
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The chairman said the recent events were akin to Andrew, Katrina and the WTC.
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The estimate is net of its per-occurrence reinsurance program and gross of tax.
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A higher loss quantum will put a greater burden on retro programmes.
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The carrier unveiled its launch last week and is hiring across its divisions.
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The loss aggregator has classified the fires as two separate events for reinsurance purposes.
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Hampden embarked on a new “intelligent follow” strategy in 2023.
