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Losses stemmed from ex-Tropical Cyclone Alfred and North Queensland flooding. -
The Bermudian legacy carrier is seeking a counterparty to manage the claims on the portfolio.
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The 1 April renewals are the key date for Japanese treaty.
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Total reinsurer capital grew by $45bn in 2024 to $715bn.
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Caution around economic volatility wrought mixed outcomes in specialty re.
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Michael Pickel retired from Hannover Re last year after 25 years with the reinsurer.
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Conduit Holdings announced CEO Trevor Carvey’s retirement today.
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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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Executive chair Neil Eckert will step in as interim CEO.
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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.
