Reinsurance
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The CEO said Ascot would deploy capital where it sees opportunities.
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New CEO Eckert said Conduit had taken “decisive action” after the LA wildfires.
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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.
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The carrier booked EUR800mn in LA losses in the P&C segment.
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The reinsurer's group operating income fell by 14% to EUR480.5mn.
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Former Aviva and AIA CEO Mark Wilson will lead the new initiative.
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The firm expects to replace the volume with Innovations-channel business.
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The (re)insurer used alternative capital in the reinsurance coverage.
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Hamilton also expects rising demand and stable supply for 1 June renewals.