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The two parties are targeting a launch by the end of the year, with scope for WTW to buy the start-up at maturity. -
Renewals will depend on clients’ ability to differentiate themselves from broad-brush trends.
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The ratings agency said the global reinsurance sector is in “an even stronger position than a year ago”.
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“They want to grow their portfolios,” Guy Carpenter's CEO added.
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The ratings agency said reinsurers were reaping the benefits of ‘a long upward trek’ of remediation.
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The ratings agency forecast a slowing pace of property cat rate increases in 2025.
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Reinsurers continued to diversify into primary and specialty business.
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Will Curran joined the Lloyd's syndicate earlier this year.
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The insurer said once firms give up lower attachments or aggregates they “simply do not get them back”.
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4809 Broker’s client base includes reinsurers, banks, funds and PE firms.
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The carrier continued to expand in property and specialty, especially non-cat exposed business.
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The property market remains “one of the most favourable... I've seen in my career", he said.
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The broker warned that D&O and P&C policies could also be impacted by the outage.
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The carrier purchased an additional $150mn of cover.
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This publication has reported several exits from the carrier’s Lloyd’s operation.
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Reinsurers were more willing to support lower layers ahead of 1 July, the broker said.
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The broker said another strong year would drive pressure for “reasonably significant rate reductions” next year.
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She said potential hurricane activity was just one factor impacting the 2025 outlook.
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Berkshire Hathaway and Canada Life Re will provide as much as A$680mn of protection annually.
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A standalone syndicate could offer capital, trading, and licensing advantages.
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Concerning hurricane forecasts are among the factors driving tighter reinsurer capacity.
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The proposals include increasing either statutory or CRTF funds.
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Based in London, the executive will report to Ocean Re CUO Jamie Wakeling.
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