Reinsurance
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SCS can no longer be considered a "secondary" peril for the US insurance market, Steve Bowen said. -
Spicer will transition to a global specialty executive chairman role.
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She will continue to work with the executive team on key projects and initiatives.
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Two large storms hit the Midwest and Ohio Valley regions on 14-17 May and 18-20 May.
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The executive will take the global role alongside his existing US responsibilities.
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TMK formed its specialty reinsurance unit last year.
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The underwriter joined Catlin in 2006.
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Vincent Hermenier joined Hannover Re in 2004.
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As with 2024, pricing pressure has been most acute on top layers.
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The reinsurer reported EUR2.1bn GWP for the year.
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The company’s parent MS&AD reported group profit of 691bn yen for the year.
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The carrier benefited from top-line growth and lower adverse PYD.
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