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The chairman said the recent events were akin to Andrew, Katrina and the WTC. -
SiriusPoint’s property book grew 25% in full year 2024.
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Good ESG practices are part of good risk management, the company said.
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The carrier expects to book $100mn-$140mn from the California wildfires.
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The firm’s core CoR improved 3.2 points to 90.2%.
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Deteriorating CoRs, GWP growth and fears over wildfire impacts were common themes.
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The company, meanwhile, is bullish on E&S US casualty.
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The firm pegged industry losses at $35bn-$45bn.
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The start-up has achieved an A- credit rating from AM Best.
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Over 2024, four hurricanes added 13 points of cat-loss impact to the combined ratio.
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The restructuring arrangement is designed to protect creditors.
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At 1 January renewals, prices dropped 5%-15% for loss-free programmes.
