-
A 20% increase in FHCF retention levels sent cedants to the private market. -
Broker facilities and increased US domestic appetite are accelerating the softening.
-
As with 2024, pricing pressure has been most acute on top layers.
-
The targeted uplift comes after Mercury ceded nearly $1.3bn of wildfire losses to reinsurers in Q1.
-
The reinsurer said the market was unprofitable and pricing needed to increase immediately.
-
Its 2025 programme exhausts at $9.5bn excess $1bn.
-
Fully placed, this would equate to $275mn on the per-occurrence tower and $675mn on agg.
-
Despite a softening market, carriers still have belief in their profitability, sources said.
-
Large losses and attrition put pressure on aviation underwriters.
-
Plus, the latest people moves and all the top news of the week.
-
Lloyd’s has been likened to a “toothless tiger” in its crackdown efforts.
-
