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The executive said claims can be a differentiator in a softening market. -
CEO Tom Wakefield said property cat supply is “materially outpacing demand”.
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Donna Swillman is currently a senior underwriter at Axa XL.
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The action follows Sompo’s $3.5bn all-cash acquisition of Aspen Insurance.
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Farnworth will also chair the carrier’s audit committee.
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The data modeling firm said losses previously averaged $132bn annually.
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The ratings agency warned negative PYD on US casualty will likely continue.
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Signs of discipline indicate a “break” from past boom/bust market cycles.
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Some 32% of survey respondents expect property cat rates to fall by more than 7.5%.
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The ratings agency was presenting its outlook ahead of the Monte Carlo Rendez-Vous.
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The deal is part of Gallagher’s ongoing Asia-Pacific investment strategy.
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Strong CoRs and investment returns supported profitability in H1 2025.
