North America
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The broker added reinsurers remain cautious on US casualty risk. -
Plus, the latest people moves and all the top news of the week.
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The carrier has around $2.5bn-$4bn of reinsurance cover specifically for California risk.
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Organic growth in broking segment Marsh accelerated during the reporting period.
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The MGA has faced high claims activity on its energy liability book, fuelled by social inflation.
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The Floridian also expects to report its “best earnings quarter” for Q4 2024.
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The figure does not include specie or auto losses.
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The nationwide carrier ranked sixth for multi-peril California homeowners' insurance in 2023.
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The carrier is restructuring the business into three segments.
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Munich Re and Berkshire Hathaway are among the major providers to large California cedants.
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The carrier also has a $500mn excess $2.4bn aggregate protection.
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The company received over 10,100 home and auto claims as of January 27.
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