Treaty Reinsurance
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Reinsurers were more willing to support lower layers ahead of July 1, the broker said. -
The program is led by the same carriers as the expiring treaty.
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The ratings agency noted robust profit margins for reinsurers.
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Doshi takes over from Jiten Voralia, who was promoted to head of NA treaty reinsurance in February.
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Despite reserving actions, there are no signs of reinsurance capacity shortages in the market.
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The Floridian secured $2.7bn in aggregate limit across two towers.
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The program includes all perils coverage and third-event protection.
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Based in London, the executive will report to Ocean Re CUO Jamie Wakeling.
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Citizens also secured $1.1bn of limit for its Everglades Re cat bond.
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Analysis of 2023 statutory data shows that Californian insurers are leaning more heavily on reinsurers but at a nationwide level, premium cessions were more stable.
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The bridge disaster added 6.3pts points to the company’s overall CoR in Q1.
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