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Two major claims have prompted underwriters to question the sustainability of double-digit rate decreases. -
The two Asian companies wrote $265mn net premiums in 2024.
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The insurer has participated on McGill and Price Forbes facilities, as well as Amwins.
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The combined ratio improved by 0.5 points to 75.7%.
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The company also announced a EUR2bn share buyback.
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Some firms are broadening their M&A net in light of PE firms showing more restrained appetite for intermediaries.
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Changes in business mix towards specialty and improved reserve development offset higher Q4 cat losses.
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The estimate is based on industry losses in the range of $35bn-$45bn.
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The executive joined BMS in 2022 after three years as deputy CEO at Carpenter Marsh Fac.
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