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While market underwriting profit slipped 10%, the underlying combined ratio was under 80%. -
Some $4.8bn of reinsurance and cat bond limit will come up for renewal in 2025.
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Almost 300,000 people have been left without power from the storm.
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This loss number covers the property line of business.
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CEO Alex Maloney said the LA fires might prompt some carriers to go more “risk-off”.
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The London D&F market will shoulder most of the losses.
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The reinsurer pegged the market loss at $40bn.
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North America is likely to be the most financially impacted by the scenario, Lloyd’s said.
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Ascot Underwriting CEO Ian Thompson, who took the helm last summer, discussed emerging headwinds.
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The programme structure was expanded, but it is unclear what percentage was placed.
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Plus, the latest people moves and all the top news of the week.
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The company also announced a EUR2bn share buyback.
