Reinsurance
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The state insurer of last resort is set to purchase $2.89bn of reinsurance this year. -
AJG still has $2bn of M&A capacity after the AP and Woodruff Sawyer deals.
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The remediation process is on track for completion in the fourth quarter.
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The CUO described the pricing dynamics in the line as “strong and good”.
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The executive also addressed the impact of the US tariffs.
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Its 2025 programme exhausts at $9.5bn excess $1bn.
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The carrier reported a 3% price reduction across London market business.
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The carrier estimated its California wildfire loss at $145mn-$165mn.
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The group reported “robust” growth in property reinsurance premium.
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The group reported a 19.1% return on opening adjusted tangible book.
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Overall, the company’s underwriting income fell 43% to $417mn in the first quarter.
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The carrier is targeting an IPO valuation between $2.6bn and $2.9bn.
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