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Across London, the US and Bermuda, Ascot Re will provide P&C, PI and specialty lines cover via its new aligned division. -
There is no such thing as an average loss year, but investors will still be looking for benchmarks.
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The 19bn-20bn rand claims quantum marks a steep increase from a mid-July estimate of 7bn-10bn rand.
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The feature will allow insurers to explore in real time the most competitive prices for a variety of structures and perils.
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Proactive price action is enough to keep pace with inflation – for now.
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The reinsurer is looking to hire in the underwriting, compliance, finance and business administration departments.
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The carrier has hired also CNA’s Julie Stephenson as global head of casualty.
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Willis’s sale of its reinsurance arm was the best option it had left – but the loss will have implications for the wider business.
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So far, damage costs caused by the California fire are thought to be below $1bn.
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Despite some rate tapering, the two German reinsurers are expanding premium, as all four carriers enjoyed North American rate increases.
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The carrier made recoveries on only one disaster event in the past year.
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Geico’s loss ratio jumped by nearly 18 points in the quarter on higher claims frequency, on par with results at personal auto rival Allstate.
