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Reinsurers are pushing for premium adjustments to minimise inflation risk and walking away from multi-year deals. -
Aon’s reinsurance solutions CEO, Andy Marcell, said the loss ratios of treaties managed by the brokerage firm performed “pretty well” in the past 10 years.
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The carrier’s programme management business’ GWP rose by 82% to $807.3mn.
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Jonathan Zisaruk will be based in London and report to group CEO Will Bridger.
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The carrier’s withdrawal from certain specialty lines comes as remediation feeds through into improved results.
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The transaction will mark Sompo International’s full withdrawal from the Lloyd’s market.
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The company expects to announce another similarly sized deal soon, and the rest of the year’s pipeline is “beyond expectations”.
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Insurance Insider explores the themes around growth in London and a contraction of cat limits on the horizon, in the months before an intensive 1.1 period.
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The deal is split into a ~£1.1bn reinsurance-to-close deal and a ~£100mn loss portfolio transfer.
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The executive was responsible for all types of legacy transactions, from structured adverse development cover to LPTs.
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The executive has come under fire from the company’s two largest shareholders, which are calling for his removal.
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The ratings agency warns latent exposure to property risk could cause capital deterioration.
