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Supply generally exceeded demand and trading relationships were ‘strong’, CEO Tom Wakefield said. -
A roundup of all the news you need, including early broker takes on the renewals and the Jeju Air loss.
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An 11th-hour softening has driven discounts into double-digit territory on some deals.
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The reinsurer is buying out China Minsheng affiliate at year-end.
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In property, Canada, Central and Eastern Europe and UAE renewals were impacted by losses.
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Axa XL leads the aviation all-risks reinsurance coverage for the destroyed Jeju Air Boeing 737-800 craft.
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The firm has commenced writing collateralised retro and reinsurance but its rated launch is still pending.
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Axa XL is understood to be the lead carrier, with Gallagher the broker on the account.
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The broker said demand grew more slowly than reinsurer appetite.
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The programme was developed in collaboration with Allianz Commercial.
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Aviva is targeting £125mn of annual savings within three years of the deal.
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A roundup of all the news you need, including part two of Insurance Insider’s London market’s 2024 year in review and Colorado’s last-resort insurer.
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