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Castel founder Mark Birrell will take the role of executive chairman. -
The 2024 hurricane season stayed within predictions for high activity but lacked market-moving events.
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The start-up has secured BMA approval as it looks to a 1 January kick-off.
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The loss figure has increased 200% from the initial number provided in October.
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The association’s Hurricane Beryl net loss stood at $455mn as of 30 September.
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The industry posted a good quarter, but reserving and loss cost concerns hardly abated.
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The agency’s outlook for global reinsurance remains at Positive.
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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.
