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The carrier’s overall P&C combined ratio improved 0.1 points to 91.8%. -
The undiscounted combined operating ratio worsened slightly to 96.6%.
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Their next destination remains unknown.
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Sources suggested that the multiple could be as low as the 13x range as valuations reset.
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The consultation is a “welcome change of approach” from the regulator.
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Aviva and Direct Line struck the landmark deal in December.
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Soft conditions have led to “less acute" underwriting discipline, sources said.
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Plans include a new definition of commercial customers and lead insurers compliance only.
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The headcount at the start-up now stands at around 40.
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The market has broadened its risk appetite and infrastructure over the years.
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The reinsurer said the LA wildfires would have a “dampening effect” on mid-year renewals.
