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The syndicate’s claims ratio worsened due to an “exceptionally active” hurricane season. -
The syndicate expects £5.8mn-£8.6mn in California wildfire claims.
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Reinsurance made up 12% of the syndicate’s 2024 GWP.
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Cat losses from Helene, Milton and the Oklahoma tornadoes will fall within expectations.
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The market took a higher share of hurricane losses and couldn’t cut its acquisition costs.
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The syndicate expects to book a combined loss of £39mn from hurricanes Helene and Milton.
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Plus, the latest people moves and all the top news of the week.
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The syndicate achieved a profit despite a “relatively heavy” catastrophe year.
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The broker has promoted Oriol Gaspa Rebull to global head of analytics strategy.
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Most of the market’s largest syndicates kept their CoRs below 90% as prices remained adequate.
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Reinsurance and property remained the primary drivers of premium growth.
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Most of the industry losses occurred in Austria, the Czech Republic and Poland.
