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The carrier’s top team says price increases are now spilling over into loss-free lines and regions. -
Reinsurance, crisis management and art and specie are areas of opportunity, according to the Axa XL chief.
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Meanwhile, US GL underwriters fear the impact of Covid-19 litigation.
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The CFO said that the unit was focused on building a profitable book and that growth would come later.
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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.
