MS Amlin
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This publication revealed the move earlier this year. -
Sam Geddes will join Syndicate 1918 next year in an executive leadership role.
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The recruits will join from Nephila, Aon and Malaysian Re.
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California wildfire losses were partially offset by improved underlying underwriting.
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Dart succeeds Andrew Carrier, who will retire at the end of the year.
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Peter Cordell will join Syndicate 1729 in January.
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Category 4 and 5 storms could become more common and hit further north.
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The carrier has entered several new classes recently, including specie and reinsurance.
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The underwriter joined MS Amlin in 2020 after more than 24 years with Markel.
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The change reflects the company’s growing profile within the MS&AD group.
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The company’s parent MS&AD reported group profit of 691bn yen for the year.
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Competition is high in specialty reinsurance as new capacity enters the market.
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CEO Andrew Carrier says the business has strong “forward momentum”.
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The launch is part of MSI’s strategy to expand the capacity of its UK subsidiaries.
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Improved underwriting helped absorb claims from the Baltimore bridge collapse and Hurricane Helene.
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The MGA has faced high claims activity on its energy liability book, fuelled by social inflation.
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New entrants have contributed to competition in the class of business.
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The upstream market is now in softening territory, with capacity still abundant.
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Aon announced in early December that it had expanded ACT to offer 28.5% capacity for 2025.
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Parent MS&AD highlighted “strong underwriting fundamentals”.
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Paul Keaveney leaves Zurich after nearly a decade with the carrier.
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A significant amount of new capacity has flowed into the political violence and terror market in recent months.
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The subsidiary’s financial result swung from loss to profit for the period.
