Claims and losses

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.

The MGA’s GWP hit $4.6bn as the CEO labelled aviation all-risks rates “woefully inadequate”.

Sources warned some property XoL books are already running 50% loss ratios.

The insurance industry has experienced mounting losses from severe convective storms.

Some of the Big Four are slowing growth as the market softens.

Jack Falvey, CEO of Falvey Insurance Group, talked to Insider on Air about what sets his MGA apart in an increasingly crowded field and why “just having relationships” isn’t enough anymore.

Of the 178 passengers and crew on board, no serious injuries have been reported.

Plus, the latest people moves and all the top news of the week.

The carrier was seeking to expand its 1 March-renewing programme.

Reinsurers’ hopes that LA wildfires will slow 1.4 softening are in question.

Island appetite remains stable, but early 2025 loss activity has injected fresh uncertainty.