Interviews
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Praedicat CEO Bob Reville outlined the firm’s approach to "casualty cat" as liability risk modeling continues to mature. -
Admitted markets are not coming back to property as strongly as in past cycles, the executive said.
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Casualty will likely fuel some of the E&S growth, the executive said.
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Pockets in the business are still experiencing significant stress, she added.
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The carrier’s initial casualty offering will be wholesale-only, the executive said.
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The MGA noted a 17%-20% price decline last year and expects similar for 2024.
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The executive struck a cautious note on the industry’s reserve adequacy for the 2021-23 accident years.
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Expansion of the middle-market book is an ongoing focus.
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The broker has seen an “outpouring of interest” from talent looking to join since the Truist exit.
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The top four lines posted low-single digit to high-single digit policy count growth.
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Commissioner Andrew Mais said AI is also a priority for regulators.
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The new broking president added that hundreds of Marsh staff would not show up tomorrow at WTW.
