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The reinsurers point to falling interest rates and loss experience as the basis for further hardening.
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The hedge fund reinsurer offered to merge with Sirius in May 2018, before the company’s listing on the Nasdaq exchange.
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Lower capacity will have an effect, but the company hopes to avoid severe retro rate rises.
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The former Verto Syndicate 2689 deputy active writer parts ways with Peter Mills' start-up.
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CEO Michael Pickel says Covid-19-related losses and the low interest rate environment have made price increases “absolutely essential”.
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The European reinsurance chief says interest rates and loss experience drive the carrier’s hardening stance.
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Backing comes from industrial investor Ajay Kumar through his family office.
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Some reinsurers pulled quotes as the shock waves of ~$650mn of creep reverberated.
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With the announcement of a tiered system of Covid-19 restrictions in the UK this week as cases continue to rise in various regions, it is clear the government is fighting fires on every front.
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Jon Warner will join early next year as senior account manager.
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The Japanese reinsurer already offers P&C cover out of its Zurich subsidiary.
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The expansive broker continues to upsize its team in London following the appointment of Dominic Riley.