Insurers
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The executive will replace retiree Michael Miller. -
Losses from the larger fire will amount to $20bn-$25bn, the modeler said.
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Loss-cost indicators are high for liability, low for property.
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The estimate has reduced slightly since the modeler’s last update in October.
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Year-end reserving, Milton and wildfires will dominate Q4 earnings discussions.
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Most insurers outperformed the S&P 500 last year, but the trend is unlikely to continue.
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Christopher Flatt succeeds Christopher Schaper, who was appointed CRO of AIG in November.
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Six wildfires are now burning in SoCal, with the Palisades fire being the largest.
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More than 4,000 acres are burning as thousands evacuate.
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Tim Watson most recently served as a senior credit and political risk underwriter.
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Trends leading into 2025 may indicate workers’ comp releases have peaked.
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The executive has also worked for AIG and Ace.
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