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The company booked profit for the year of £247mn, up 20% on the prior year. -
The syndicate’s claims ratio worsened due to an “exceptionally active” hurricane season.
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The syndicate expects £5.8mn-£8.6mn in California wildfire claims.
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Reinsurance made up 12% of the syndicate’s 2024 GWP.
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Cat losses from Helene, Milton and the Oklahoma tornadoes will fall within expectations.
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The market took a higher share of hurricane losses and couldn’t cut its acquisition costs.
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Standfirst: The syndicate reported a strong turnaround despite exposure to major claims.
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Experts at Insider Progress shared tried-and-true methods to get women into boardrooms.
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The syndicate expects to book a combined loss of £39mn from hurricanes Helene and Milton.
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Plus, the latest people moves and all the top news of the week.
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The March 13-16 storms would mark the first billion-dollar US SCS event of the year.
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The syndicate achieved a profit despite a “relatively heavy” catastrophe year.
