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The carrier’s estimated first event limit could increase 16%, to $1.35bn. -
The firm expects to replace the volume with Innovations-channel business.
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Cat losses for the quarter added 3.2 points to the carrier's combined ratio.
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Q1 adverse reserve development went down to $4.2mn from $5.4mn a year ago.
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The carrier reported a below-budget cat experience, despite the California wildfires.
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The Canadian conglomerate’s total cat losses in Q1 reached $781mn, including $692.1mn from the fires.
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The reinsurer said the market was unprofitable and pricing needed to increase immediately.
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The carrier reported a 3% price reduction across London market business.
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The Bermudian reported net pre-tax cat losses of $49mn, with $32mn attributable to the California wildfires.
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The group reported “robust” growth in property reinsurance premium.
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The executive will oversee Howden Re’s treaty and fac business in Miami.
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The broker said the burgeoning class of business was still finding its stride.
