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MAP’s Christopher Smelt said impact on nationwide programmes will cause risk aversion. -
Most of the industry losses occurred in Austria, the Czech Republic and Poland.
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Sources warned some property XoL books are already running 50% loss ratios.
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The insurance industry has experienced mounting losses from severe convective storms.
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Some of the Big Four are slowing growth as the market softens.
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Plus, the latest people moves and all the top news of the week.
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The carrier was seeking to expand its 1 March-renewing programme.
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Reinsurers’ hopes that LA wildfires will slow 1.4 softening are in question.
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Island appetite remains stable, but early 2025 loss activity has injected fresh uncertainty.
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Both carriers have extensive reinsurance coverage.
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Aviation reserve strengthening added 10.1 points to the combined ratio.
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The market improved on attritional losses in 2024 – but slowing rate growth raises queries over top-line momentum.
