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The carrier disclosed it will book $1.1bn in net losses from the California fires. -
The insurer acknowledged additional claims in 2025 would be “reasonably possible”.
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Single-digit organic growth, robust casualty pricing and tapering margins were all key trends.
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The specialty insurer reported favorable developments in both its insurance and reinsurance segments.
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The carrier reported expansion in financial lines and marine.
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The broker CEO explained talent is what drives organic growth.
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The group’s revenues expanded by 23% to more than £3bn for the year to 30 September 2024.
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The arrival of Marsh’s Donnelly will "accelerate" US specialty growth, the CEO said.
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At 1 January renewals, prices dropped 5%-15% for loss-free programmes.
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CEO Carl Hess said WTW is entering 2025 with “considerable momentum”.
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The Bermudian’s wildfire loss estimate was based on an industry loss range of $35bn-$45bn.
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Aon saw lower rates in reinsurance as capacity outstripped demand.
