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The CFO said that the unit was focused on building a profitable book and that growth would come later. -
Jean-Paul Conoscente says Scor’s capital strength and flexibility put it in a good position to take advantage of further rate rises and increased M&A activity next year. Rachel Dalton reports.
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Hiscox’s 90% projected CoR should prompt further thought at Lloyd’s on moving to a growth paradigm.
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Over-capacity is still stifling rate increases despite rising claims experience.
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The outgoing CUO emphasises large pro-rata book and interest rate impact.
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Commentary from Beazley and Lancashire also flags challenges on volumes, interest rates and recessionary claims.
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The incoming CEO plans growth in retro, cat and property per risk as pricing improves.
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The utility spent 13% more to secure its insurance but cut back third-party cover to $870mn.
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The exit of Aspen and Liberty along with a “challenging claims environment” has put pressure on the class.
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The French reinsurer guides away from an equity raise as it predicts further rate hardening.
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After losing its A- status, GIC Re faces the potential for lost business and a hard road to recovery.
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Cat programmes have been completed this year, but a heavy hurricane season could shake up the market, the broker said.
