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Six wildfires are now burning in SoCal, with the Palisades fire being the largest. -
Hurricane Milton resulted in the largest insured loss of the year at $25bn.
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More than 4,000 acres are burning as thousands evacuate.
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Supply generally exceeded demand and trading relationships were strong, CEO Tom Wakefield said.
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In property, Canada, Central and Eastern Europe and UAE renewals were impacted by losses.
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The insurance industry countered that the committee ignored a “toxic mix” of risks driving up costs.
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More competitive pricing is predicted for the commercial insurance market.
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Sources said Berkshire will move from the largest single capacity provider to a single-digit percentage line size.
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TSR anticipates that next year will see an ACE value of 129 compared with the 30-year norm of 122.
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The move was led by ex-Icat CEO Gregory Butler.
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James Drinkwater is to serve as vice chair and executive chairman at Amwins Global Risks.
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The 2025 State of the Market report also touched on E&S and MGA growth.
