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The reinsurance to close transaction is effective from 1 January 2025. -
The international segment’s CoR deteriorated slightly due to increased expenses.
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James Shea will lead the new Sompo P&C arm, while Yasuhiro Oba will become Wellbeing CEO.
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Deteriorating CoRs, GWP growth and fears over wildfire impacts were common themes.
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Rate falls across the property class and uncertainty around the US administration dominated conversations.
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The second half of the year was significantly more active for the legacy market.
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The carrier enters H2 with a clean reinsurance programme.
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The role at PCS included acting as primary touchpoint for ILS.
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The start-up has achieved an A- credit rating from AM Best.
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The executive has also worked for Guy Carpenter during her 20-year career.
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As the market turns, balance sheet M&A is becoming a more appealing option.
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Over 2024, four hurricanes added 13 points of cat-loss impact to the combined ratio.
