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CEO Rick McCathron also said the company is seeking to diversify its portfolio. -
California wildfires account for $40bn of the insured loss tally in H1.
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The gross loss ratio for the homeowners InsurTech fell by 12 points last quarter.
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With roughly 200 employees, the South American operations generated over EUR130mn in 2024 GWP.
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The company reduced its proportional quota share program from 55% to 20% cession.
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The professional lines market remains ‘challenging’ overall, however.
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The carrier’s US redomicile is expected for later this year and brings a one-time $10mn-$13mn benefit.
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The group has hit multiple industries since March, including a raft of insurance companies.
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The plaintiffs seek a declaration that part of Marsh recruits’ restrictive covenants are unenforceable.
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CEO David Howden accused rivals of “restricting choice for their own clients”.
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Group CEO David Howden says: ‘Our doors are open’.
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The reinsurance CoR fell 2.3 points to 79.5% while the primary CoR rose 4.7 points to 98.7%.
