Interviews

Group CFO and incoming president of insurance Jeremy Noble has told Inside P&C that the insurance operation is where Markel sees the most upside potential.

The move aligns WTW resources with specialist industries to operate as standalone businesses within North America.

The executive also said that the firm seeks to grow in Canada and in the middle market space, where it has already increased the number of underwriters by 30%.

The reinsurer is ready to “walk away from business” where it feels pricing and terms and conditions are not good enough.

The CEO addressed the progress of the strategic process in his first interview since taking the role.

The Category 1 storm’s landfall on the east coast of Florida would be a “manageable” cat event that hurts primary carriers more than their reinsurers, he said.

The impact of Ian losses on SiriusPoint’s total equity was ~3.5%, lower than RenRe and Everest, and in line with Axis.

The declining number of IPOs has reduced demand for public D&O cover and created competition, but current rates may not adequately price the risk, the executive said.

Licensed in Arizona, the (re)insurer will play only in non-nat cat specialties by providing low limits coverage in transportation, ocean/inland marine, cyber and GL lines.

Core Specialty CEO Jeff Consolino noted that the recent Hallmark deal places the firm among the 20 largest E&S writers.

The event will be a combination of all three perils – wind, storm surge and precipitation-induced flooding – says meteorologist Jeff Waters.

The incoming CEO said growth areas would include the middle market, Asia, LatAm and MGAs.