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The carrier incurred claims from LA wildfires and flooding in Queensland. -
The final month of the year saw an unusually high number of claims.
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The firm expects to replace the volume with Innovations-channel business.
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The (re)insurer used alternative capital in the reinsurance coverage.
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Hamilton also expects rising demand and stable supply for 1 June renewals.
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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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Hamilton reported $150.5mn of net cat losses, partially offset by $9.2mn favourable prior year development.
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IGI saw opportunities in energy, ports and terminals and marine cargo but remains cautious in long-tail lines.
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Ark's combined ratio included 25 points of catastrophe losses in Q1.
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The CEO expects overall P&C pricing to be “stable” through 2025.
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The carrier booked LA wildfire losses of EUR148mn.
