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The US insurer squeezed its retention in a renewal where cat treaty retentions are widely holding steady. -
This was the second issuance completed by Farmers via its Bermuda reinsurance vehicle Topanga Re.
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The company named two execs to head global wholesale and commercial.
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Los Angeles wildfires and SCS pushed US losses to $89bn.
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The mechanism would work similarly to Flood Re.
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Several Lloyd’s syndicates are also now providing cover for the federal insurer.
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The underwriter will fill a newly created role at AIG.
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Join senior market leaders for a forward-looking discussion on performance trends, pricing dynamics, M&A signals and risk appetite across both admitted and E&S segments.
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Carriers posted weaker top-line results but delivered improved combined ratios.
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The MGA began offering US commercial E&S property products in December.
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The carrier now expects to deliver full-year operating profit of ~£2.2bn.
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James Kelly joins from Besso, having held senior positions at JLT, Lockton and Gallagher.
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