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The broker and ratings agency AM Best said total deployed capital grew 2.7% in 2021. -
European loss experience drove the firm’s index back in line with 2014 levels.
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The broker’s property cat RoL index jumped by almost 11% as capacity was more constrained for retrocessional and frequency-exposed property treaties.
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Quick progress on a late reinsurance renewal has closed many gaps but private deals have proliferated, making overall outcomes more opaque.
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The fires are being fanned by winds of up to 115mph around the towns of Superior and Louisville.
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The reinsurer announced its repurchase programme earlier this week to meet future obligations under incentive schemes.
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Fairfax completed the sale of a $900mn stake in Odyssey Group to CPPIB and Omers earlier this month.
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The “squeezed middle” of the reinsurance sector is under pressure, but attritional risk aversion could drive ongoing changes.
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Reinsurers have held the line more strongly than last year but rising risks may offset gains.
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Reinsurers anticipate lower increases than last year but maintain pressure for rate in inflationary environment.
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Juan Andrade’s employment agreement has been extended through the end of 2023, with automatic annual extensions following this term.
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Group operations will be reorganised, with all technology responsibilities falling under Ladva’s remit.
