Reinsurance
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There has been a period of staff displacement in the specialty reinsurance market. -
Helene losses were spread wider than initially suggested, in contrast to Milton claims.
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O’Brien was previously head of cyber centre of excellence for international at Guy Carpenter.
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The additions included significant reserve bolstering for recent year portfolios 2021-2023.
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Nat cat pricing is expected to be more or less flat, with rises on loss-affected programmes.
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The group reported a combined ratio of 91.2 for the period.
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The stock price rose as analysts declared the L&H reserving review better than feared.
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Swiss Re reported some $743mn in catastrophe losses for Q3 alone.
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The market reacted to the $2.4bn charge in a positive light.
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The carrier has also completed a review of its L&H unit.
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The company said it is still on target to achieve $3bn net income for the full year.
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The partnership is Fidelis Insurance Group’s first third-party capacity deal.
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