Reinsurance
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He said that “everyone’s looking for growth”, as the firm has moderated its top line projections. -
The steep reduction in quantum stands to benefit specialty excess of loss reinsurers.
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Ascot Underwriting CEO Ian Thompson, who took the helm last summer, discussed emerging headwinds.
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The programme structure was expanded, but it is unclear what percentage was placed.
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The result is 1.1 points ahead of the midrange of a 6.4%-16.4% forecast.
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The terrorism pool has shifted its programme from facultative to an XoL arrangement.
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The combined ratio improved by 0.5 points to 75.7%.
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The company also announced a EUR2bn share buyback.
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CEO Andreas Berger addressed Swiss Re’s primary aviation exit.
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The carrier announced a $175mn share buyback.
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The carrier increased premium by 7% at the January renewals.
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The firm projects losses from the fires at between $160mn-$190mn.
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