Interviews

A typical cat year should now be thought of more as a $100bn-$150bn potential loss, as volatility leads to surplus lines growth.

Insureds that have taken higher retentions or less limit due to increased cost could be exposed this year if there is a major cat event, according to Swiss Re’s Kyle Burnett.

Everest is expecting to appoint a leader to head up the new wholesale operations over the next 30 to 45 days.

Alkeme has struck 10 deals in 2023, buying $13.4mn of Ebitda and $34mn of revenue, and has seven other LOIs pending that will add another ~$7mn of Ebitda this year.

Some 15 months on from the property reinsurance exit, he said the firm continued to reserve the right to reshape the portfolio.

Hale Partnership CEO Steve Hale added that the policies in the area where Idalia hit represent less than 5% of the carrier’s book.

The carrier has taken advantage of what it says are inherent strengths in talent and tech as well as a ‘golden’ E&S age.

Insurance's GWP decline was driven by a couple of programs that were underperforming, while reinsurance's deceleration was driven by a deliberate slowdown in the mortgage book.

The firm closed a ~$1bn debt facility 15 months ago to fuel its expansion plans and is working on a similar structure that will boost its war chest for the near future.

The CEO said he expects the total number of policies from the October takeout to “be substantially lower than 100,000”, roughly around 30% to 50% of the approved figure.

CEO Adam Kembrooke said some markets would struggle to maintain the results they’ve posted historically, after the point of pricing equilibrium in the cyber class.

Fidelis Insurance Group CEO Dan Burrows and Fidelis MGU counterpart Richard Brindle speak with Insurance Insider after the IPO.