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The reinsurer is planning to drop its cession rate from 40% to 30%-35%. -
Credit insurers may need to adapt their business mix, client base and types of deals underwritten to stay relevant.
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Flash flooding in Spain has killed at least 64 people, leaving thousands of homes without power.
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The carrier estimated its net Helene and Milton losses at under EUR200mn.
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Although the worst of the rainfall has passed, the “devastating episode” may not be over, Spanish prime minister Pedro Sánchez warned.
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Chancellor Rachel Reeves has raised the capital gains tax’s higher rate to 24% from 20%.
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Gabrielle Folliard has worked at Canopius since 2019.
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Ralph Beutter, currently the board member responsible for specialty lines, is set to retire in May 2025.
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The scheme will not be in place for 2025 as government discussions grind to a halt.
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Risk managers are increasingly concerned about insurability.
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Some reinsurers are considering frequency protection products.
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