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A 20% increase in FHCF retention levels sent cedants to the private market. -
The change reflects the company’s growing profile within the MS&AD group.
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The CEO transition is already visible in messaging on growth as rate change picks up.
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The CUO noted that market-wide rate change in Q1 was down 3.3%, coming in below plan.
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Soft conditions have led to “less acute" underwriting discipline, sources said.
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Sentiment at the ILS Connect event hosted by Insurance Insider ILS was generally positive.
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The executive criticised the ongoing underrepresentation of women in senior leadership roles.
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The reinsurer said the market was unprofitable and pricing needed to increase immediately.
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The carrier reported a 3% price reduction across London market business.
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The broker said the burgeoning class of business was still finding its stride.
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CEO Adrian Cox said the market could turn on “unexpected events”.
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Cyber and property experienced the largest price reductions.
