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It is understood that Marsh brokered the tower, which is exposed to claims from a 2024 breach. -
The carrier launched with the aim of writing $300mn of business this year.
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Despite wildfires, reinsurers are “well positioned to maintain strong profitability in 2025”.
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The ratings agency said underwriting-cycle management would be key going forward.
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Despite a softening market, carriers still have belief in their profitability, sources said.
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The prediction comes after a highly active hurricane season in 2024.
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Markets have taken a battering across the globe following the “Liberation Day” announcement.
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Elizabeth Wooliston said the immediate concern would be managing ‘value at risk’.
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The reinsurer said the probe concerns the alleged involvement of its former chairman.
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Insurance share prices were resilient amid today’s market meltdown.
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The Gallagher Re executive called on the market to “prepare to grow sustainably together”.
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Ex-Hannover CEO Jean-Jacques Henchoz exited from the reinsurer at the end of March.
