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Conditions in the London market remain attractive according to CEO Aki Hussain. -
UK and Ireland GI premiums rose 16% over the year.
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The carrier announced a $175mn share buyback.
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Cat losses in the quarter totalled $49.1mn, net of reinsurance, of which $37.8mn was from Milton.
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The carrier will look to grow business outside North America.
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The carrier expects the market loss to land at $35bn-$40bn.
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The carrier pegged its claims expenditure for the LA wildfires at EUR1.2bn.
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The group's reinsurance book was also hit with cat losses during the quarter.
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The carrier reported $2.8mn of favourable development compared to a $3.3mn charge a year ago.
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The division reported revenue up 10.4% at A$204.2mn.
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The conglomerate reported after-tax cat losses of $1.2bn related to Hurricanes Helene and Milton in 2024.
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Retention levels for reinsurance fell across the different geographies the carrier operates in.
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