Treaty Reinsurance

The increase in limit reflects the carrier’s growing exposure.

Treaty costs were slightly lower than for 2023 in risk-adjusted terms.

The motion was filed by Chaucer Insurance Company and Chaucer Syndicates, as managing agent of Lloyd’s Syndicate 1084.

The broker will be based in Miami and offer solutions in lines including property, energy, construction and financial lines.

The source of the funding is one of the most problematic elements for sources who spoke with this publication following the draft bill’s release on Friday.

The program’s retention remained the same at $3.5bn.

Both executives will report to CEO Guillermo Eslava.

The agreement provides coverage for in-force, new and renewal business, with up to $100mn of limit excess of $10mn per occurrence.

The business will bring together aviation, marine, cyber, engineering and parametric solutions.

European rates on line increased by 7.60%, while in the US prices were up 5.25%.

Under the new agreements, Kingstone will cede 27% of its personal lines insurance written, down from 30% in 2023, and will receive a higher ceding commission rate than in 2023.

January 1, 2024 was a “spotty” renewal, with the most over-subscribed deals being those bought by the major global cedants with good track records, whereas others did not attract as much attention.