PV/Terror

Construction defects, GL and risk-managed professional liability lines saw the greatest headwinds.

While significant, the fires are expected to be an earnings rather than a capital event for the industry, John Huff, CEO of the Association of Bermuda Insurers & Reinsurers, said.

Delegated underwriters are seeing an opportunity to write in the PVT market as an add-on to property coverage.

Jelle Ouwehand joined Arch from Marsh, where he was a senior terrorism, PV and war broker.

Underwriting remains disciplined as insurers target profitable growth.

The political violence market has seen a flurry of new entrants in recent months.

PVT business has been attracting new capacity after recent rate increases.