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The loss of the major account has been a substantial hit to budgets for some carriers. -
The syndicate will continue to diversify its portfolio but growth will be “more conservative” in 2025.
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Syndicate 318 has been expanding into specialty classes over the past few years.
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The IG’s $3.1bn reinsurance tower is facing double-digit pricing increases in the wake of the Baltimore bridge disaster.
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Underwriters are broadly pricing on the basis of a $1.5bn Baltimore claim, but there is uncertainty.
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The underwriting executive will support Axis through the 1 January reinsurance renewals.
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The new product adds to its existing portfolio of upstream energy and marine and energy liability business.
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The broker will join the marine liability team within the new Ken Syndicate 3832.
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Setting aside the storm’s greater potential insured loss scale, the flood risk implies greater exposure.
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The hull market is currently experiencing high levels of competition.
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The vehicle provides coverage for non-physical damage BI.
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The company will write marine cargo and transport logistics policies across the country.
