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Signature of the exit plan is needed for cutover in 2026.
The move is a retaliation to Howden’s US retail launch.
Besides Russia-Ukraine losses, the Air India crash losses totaled $26mn.
Peter Vogt will act as a strategic advisor at Axis until the end of 2026.
Matthew Budd has over 30 years’ claims experience and previously worked for Talbot and XL.
The CEO said the carrier will prioritise margin over top-line growth.
Nat-cat events triggered A$1.36bn of losses during the year.
The overseas division booked a combined ratio of 94% for the quarter.
Beth MacGregor and Adam Vulliamy are also set to join from Axis Capital.
The P&C division booked a combined ratio of 81.1% for the first half of 2025.
The carrier also reported a slightly improved combined ratio of 94.6%.
Net adverse development for the quarter increased 30% year on year to $89.2mn.
The insurer has substantially expanded its marine team in recent years.
The London carrier missed consensus on gross and net premiums for H1.
The carrier’s profit grew 34% for the year to A$1.35bn.
Rates were down 3.9% across its portfolio in the first half of 2025.
Layla O’Reilly and Mark Edwards are among the brokers leaving the firm.
The announcement comes a week after the institutional investor said it would accelerate its pivot to an insurance-led strategy.
The airline has exercised a break clause to renew its cover six months earlier.
The estimate covers property and vehicle claims.
Part of the syndicate’s premium for clinical-trial-funding cover will move to Syndicate 1902.
The executive has worked for JLT Re, Lockton Re, Willis Re and US Re.
The Hannover Re CEO said rate adequacy remains “attractive” overall.
Steven Crabb will become deputy chairman on the insurance solutions division.
The company has recently made several senior changes to its UK and Lloyd’s leadership.
Competitor news
Competitor news
Competitor news
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The Omaha conglomerate held its ~2.1% stake in Aon valued at nearly $1.5bn and its interest of over 3% in Markel, worth over $652mn at the end of Q2. -
The commercial lines unit increased premiums by 7%, with rate rises up 7% year to date.
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The carrier’s P&C division reported a combined ratio of 91.6%, a 5.4-point improvement on the same period last year.
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From our other titles
From our other titles
From our other titles
From Insurance Insider ILS
SCS model updates offer more robust basis for aggregate deals
ILS investors have fought shy of multi-peril aggs due to low confidence in SCS modelling.
From Insurance Insider ILS
The new wave of casualty ILS is extending the playbook of major life SPVs
Investors are drawing lessons from life deals to find new routes into insurance markets.
From Insurance Insider ILS
Cat bond funds outpace private ILS by 2.01 points in H1: ILS Advisers
The ILS Advisers Fund Index reported a profit of 1.11% in June.
From Insurance Insider ILS
Swiss Re’s nat cat premium volumes flat in renewals year to date
The reinsurer had $2.8bn of natural catastrophe business up for renewal in the year so far.
From Insurance Insider ILS
Conduit Re will ‘invite’ third-party investors as it expands ILS over time
The reinsurer has already dipped into the cat bond market with its Stabilitas Re retro deals.
From Insurance Insider ILS
Florida rates likely to remain stable through 2025: HCI CEO
With plenty of reinsurance capacity, CEO Patel said it’s been a “boring year” for treaty negotiations.
Insurance Insider US provides robust insights, sharp analysis and exclusive news on the London and global (re)insurance markets.
Insurance Insider ILS provides robust insights, sharp analysis and exclusive news on the global insurance-linked securities market.