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Lucy Clarke said the broking business was resilient in the face of macro challenges. -
Organic growth was flat on the prior year and in line with Q4 2024 figures.
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The property segment experienced a 113.5-point impact from the California wildfires.
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Guy Carpenter president Dean Klisura added that Q1 was a record cat bond issuance quarter.
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The growth figure represents a 5-point deceleration on the 9% reported in Q4 2024.
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Aegis 1225 jumped from fifth place last year to become the most profitable syndicate of the last decade.
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Despite wildfires, reinsurers are “well positioned to maintain strong profitability in 2025”.
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The combined ratio improved by 1.9 points to 94.7%.
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Growth was driven by Lloyd’s Syndicate 1274 and Antares Re.
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The carrier laid out its business mix for the newly launched reinsurance syndicate.
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The first quartile contracted on the back of Beazley 2623’s GWP reduction.
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Reported income for the year rose 24% to $1.98bn.
