Insurers
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The company has been buying out Omers’ shares since 2015. -
The carrier doesn’t have big concentrations with distributors and conducts business with individual brokers.
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By contrast, capacity remains tight at the lead level.
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There has been increased W&I appetite in South American jurisdictions.
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The 2025 target would be ~25% larger than the $3.56bn it placed for 2024.
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The Class B notes on the carrier’s debut deal attach at $500mn of losses.
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Reserve releases for the year-to-date are higher than in prior years despite elevated concerns on casualty trends.
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No named storms exceeded AFG’s $70mn cat retention.
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Republican tariffs and higher Democratic corporate taxes would hurt the sector.
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The “Golden Age of Specialty” continues in the Q3 releases of these specialty companies.
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Beazley leads the first $100mn layer of the programme, while Tokio Marine HCC leads the second on the Alesco-placed cover.
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Overall, insurance rates fell by 1%, led by competition in property.
Related
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KCC pegs Hurricane Milton insured losses at ~$36bn
October 15, 2024 -
NHC extends storm surge southward to Port Canaveral
October 08, 2024 -
Project 2025: Three proposals that will materially impact the P&C industry
September 24, 2024 -
Selective lands Progressive’s Brennan as CFO, one year after Wilcox exit
September 23, 2024