Munich Re
-
As the fires spread, the priority shifted from saving structures to saving lives. -
Insured losses produced the second highest first-half tally since records began in 1980.
-
The executive has been with the company for roughly one year.
-
The executive was previously president of insurance programs.
-
It is understood that Marsh brokered the tower, which is exposed to claims from a 2024 breach.
-
There is a long waiting list of carriers looking to pull the IPO trigger, but market conditions remain tough.
-
It makes sense for Next to secure a sale as an exit strategy in an increasingly challenging funding environment.
-
The executive has managed both casualty and personal lines reinsurance books.
-
Ahead of the deal, Ergo owned a 29% stake in Next, which generated top line of $548mn last year.
-
Delegated underwriters are seeing an opportunity to write in the PVT market as an add-on to property coverage.
-
The carrier will look to expand business outside North America.
-
Hurricane Milton resulted in the largest insured loss of the year at $25bn.
