Reinsurance
-
A $30bn industry loss would use one-third of Big Four’s 2025 cat budgets. -
The reinsurance attaches at $7bn, unchanged for the past two years.
-
The members’ agent said 2024 will still be a profitable year for Lloyd’s.
-
Losses are likely to fall within syndicates’ loss budgets, it said.
-
Prominent Name Dhruv Patel is the firm’s founder.
-
Syndicate 609 will cede net loss reserves of approximately $196mn.
-
The move comes ahead of a planned sale of Wefox’s insurance business.
-
High-net-worth binders and treaty exposures will bring significant claims to Lloyd’s writers.
-
The 2024 loss figure exceeded that of the previous record of C$6.2bn in 2016.
-
The Palisades fire is estimated at $9bn-$12bn, while Eaton is $6bn-$8bn.
-
Augment has been building its staff base after launching with Altamont backing in 2023.
-
Investigators are homing in on the likely causes of the incidents.
Most Recent
-
ICA pegs H1 extreme-weather losses at A$1.8bn
02 July 2025 -
Lancashire offers to buy out Names on Syndicate 2010
01 July 2025 -
Hadley set to leave MCI Syndicate 1902 for Starr
01 July 2025