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Some Canadian cedants have approached the market for top-up cover.
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Negotiations are getting tougher, but overall market capacity is stable.
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The UK subsidiary of Carrick will acquire BMS International Insurance DAC and Seamair Insurance DAC.
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Future deal flow in the US could come from more adequately reserved liability lines.
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CEO Thierry Léger claims the “insurability” of global risk is becoming “challenged”.
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Reinsurers are high on their ‘redemption arc’. The question is – how long will it last?
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Renewals will depend on clients’ ability to differentiate themselves from broad-brush trends.
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“They want to grow their portfolios,” Guy Carpenter's CEO added.
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The take-private is expected to close by mid-2025.
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Hundle & Partners will provide capital support for the business, which will focus on acquiring corporate liabilities.
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Sources said the venture will look to service both US and European corporates and is backed by family office money.