UK and Europe

The broker is discussing the potential for "smart frequency solutions" with reinsurers.

As a result of mostly flooding, £495mn ($644mn) of losses occurred in the UK.

More public-private partnerships are needed to keep cat risk affordable.

Jens Melhorn, Head of Property Treaty for EMEA at Swiss Re discusses key reinsurance topics, including global conflicts, natural catastrophe trends, and the growing need for public-private partnerships to keep insurance affordable.

Areas with growing demand and complexity include natural catastrophe and cyber, it said.

A canvassing of the market showed some bifurcation on the necessity of a government backstop.

The carrier highlighted Italian and French hail events in recent years.

The Madrid branch will look to begin underwriting primary specialty insurance in 2025.

This will not impact Markel International, which will continue to operate out of the UK.

Nick Orton said the market is now pricing for non-peak perils, amid some surprise losses.

We may be in the midst of US hurricane season, but international catastrophe losses can emerge at any moment.

In its first six weeks, Taurus has brokered more than £100mn of UK real estate.