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The agency’s outlook for global reinsurance remains at Positive. -
It is targeting $25mn GWP this year and $50mn GWP in 2025.
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The partnership is Fidelis Insurance Group’s first third-party capacity deal.
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Fema's traditional reinsurance programme will attach at losses of $7bn and above.
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Ceding commissions remain elevated but primary rates are improving reinsurer margins.
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The carrier’s shares declined over 17% this morning following Q3 earnings and strategic actions.
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James River also amended the convertible preferred equity held by Gallatin Point and closed its strategic review.
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The UK and Ireland have also seen “increased activity”, with four deals announced.
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Arch stands out among hybrids, but Axis and Everest grind it out.
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The carrier’s Q3 net income will be around $100mn, far below consensus.
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The carrier increased specialty premium by 39% by the nine-month mark.
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The carrier said activity across smaller and mid-sized natural catastrophe and risk events had been “elevated”.
