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The result was impacted by recent adverse development on a liability portfolio. -
The P&C re unit will target a combined ratio below 85%.
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The P&C re unit will aim for a 79% combined ratio next year.
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The state insurer is budgeting for an extra 43% of overall coverage in 2025-26.
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The scheme has been pushed back by three months to 31 March 2025.
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The German carrier is now targeting net income of EUR2.5bn by 2027.
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It estimated insured losses from nat cats on track to exceed $135bn in 2024.
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The movers include former line underwriter for major property D&F, James Robertson.
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The Lloyd’s (re)insurer is looking to execute a five-year plan to double GWP to $3bn.
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WTW will hold a significant minority stake in the start-up with an option to acquire complete ownership over time.
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WTW sold Willis Re to Gallagher in 2021 for $3.5bn.
