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Prior to the event, clients were expecting a “very competitive market environment”.
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Most of the insured loss was attributable to wind.
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He replaces Kevin Madden who will assume the role of chairman for North American real estate.
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Milton made landfall near Siesta Key yesterday, leaving 2.7 million homes without power.
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Milton’s center is projected to make landfall near or just south of Tampa Bay.
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Contrary to expectations that US casualty would dominate the conversations, Milton took the spotlight.
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Milton stole the limelight from slightly stuck PE-backed brokers, acquisitive globals and the casualty conundrum.
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The NHC is predicting storm surge, exacerbated by the tide, as high as 15ft for Tampa Bay.
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A hurricane warning has been issued for the east coast of Florida.
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Hurricane Milton strengthened from a tropical storm on Sunday to a Category 5 storm yesterday.
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Reinsurance capacity is largely stable but that doesn’t mean discussions will be a smooth ride.
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The figure does not include NFIP losses.