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European reinsurers, London market carriers and composites all enjoyed healthy trading.
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The carrier launched with the aim of writing $300mn of business this year.
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Erik Manning is joining the business from BMS as head of ceded reinsurance.
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Aegis 1225 jumped from fifth place last year to become the most profitable syndicate of the last decade.
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In January, 32 Acquinex transactional liability employees resigned for Howden’s underwriting arm, Dual.
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Softening in the upstream market has also accelerated beyond expectations.
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ASR launched Syndicate 2454 at Lloyd’s last year.
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Trade credit and marine are among the lines facing direct impacts amid a broader inflationary challenge.
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Despite wildfires, reinsurers are “well positioned to maintain strong profitability in 2025”.
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The executive has taken up board positions after stepping down as CEO of Hannover Re.
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The ratings agency said underwriting-cycle management would be key going forward.
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Despite a softening market, carriers still have belief in their profitability, sources said.