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Opportunities for profitable growth in cat will be hard to predict, the executive said. -
The French reinsurer improved its P&C combined ratio by 7.4 points to 80.9%.
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The company reported no cat losses but saw a jump in attritional losses.
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The insurer continues to exit or reduce unprofitable lines and slowed growth as a result.
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CEO Brand said he expected to deliver double-digit growth, if “marginally” lower in 2026.
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The broker is monitoring whether the economic environment will limit discretionary spending.
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CFO Vogt added that the vehicle’s impact from earned premiums should ramp up from 2026 through 2029.
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The insurer paid tribute to the executive’s lasting contributions to the firm.
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The fundraising structure for the deal includes a $600mn Convex debt raise.
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The broker will join Ron Borys’ financial lines team.
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