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Improved underwriting helped absorb claims from the Baltimore bridge collapse and Hurricane Helene. -
James Shea will lead the new Sompo P&C arm, while Yasuhiro Oba will become Wellbeing CEO.
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More than 33,000 claims had been filed as of 5 February.
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Deteriorating CoRs, GWP growth and fears over wildfire impacts were common themes.
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The group reported strong underwriting results in all major overseas P&C segments.
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The estimate covers property and vehicle claims.
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The aircraft lessor said it did not expect additional recoveries.
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The organisation has released its mission for 2025 and signed a MoU with the ABI.
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The broker attributed the drop to smaller average deal sizes over the quarter.
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Sources said the claim is likely to be a multi-hundred-million-dollar event.
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Genna Biddell will report to Brad Melvin, president and CEO, BMS Re US.
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CUO responsibilities will now be split out across senior underwriting leadership.
