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Insureds often just want cover in place at the lowest price possible, and insurers oblige under the skeptical eye of regulators. -
RenRe gave the highest anticipated market loss of $50bn.
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After a period of re-assessing risk appetite, underwriters were signalling growth again – that was, before the fires.
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There are many unknown factors including insurance gaps, high-value property and damage to critical infrastructure.
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Investigators are homing in on the likely causes of the incidents.
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Sources are saying 2025 could be as expensive for wildfires as the $20bn loss years of 2017 and 2018.
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This could see it surpass the 2017 Camp Fire, which cost around $12.2bn.
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Flatt will remain on the company’s board of directors.
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The AIG and Stone Point-owned MGU will also look to move up-market, increase its weighting to E&S and add third-party paper.
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The storm is projected to make landfall in the next 24 hours in the highly populated Tampa Bay region.
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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 promotion follows a distribution trading partnership deal with MGU PCS.
