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Predicting underwriting conditions for the remainder of the year is ‘challenging’. -
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Several underwriters left Hiscox’s property D&F team last year to join MGA Velocity.
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North America is likely to be the most financially impacted by the scenario, Lloyd’s said.
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Ascot Underwriting CEO Ian Thompson, who took the helm last summer, discussed emerging headwinds.
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The London carrier posted an undiscounted combined ratio of 79%, up from 74% in 2023.
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The programme structure was expanded, but it is unclear what percentage was placed.
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The group will house a segment for specialty and benefits and another for underwriting.
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The result is 1.1 points ahead of the midrange of a 6.4%-16.4% forecast.
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Returns on capacity reduced, forecast at 4.4%-14.4%, have settled at 4.6%.
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Last month, Acquinex’s 20+ transactional risk team resigned for roles at Dual.
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Rob Littlemore serves as non-executive director of the Lockton Re International board.
