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Top Stories / Ad / Most Recent
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At January 1 renewals, prices dropped 5%-15% for loss-free programs. -
The Bermudian’s wildfire loss estimate was based on an industry loss range of $35bn-$45bn.
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The PE firm held over 6.7 million Axis shares, around 8.2% of shares outstanding.
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The MGA and 49% owner SiriusPoint could bring in a new investor.
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The carrier also grew TL written premiums by 11% in Q4 and 24% for the full year.
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Claims related to California wildfires are "fairly insubstantial" to date, executives said.
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The reinsurer is ready to deploy additional capacity following the event, but only if prices are commensurate with risk.
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CEO Jim Williamson said social inflation was a “growing barrier” to a vibrant economy.
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The (re)insurer recorded a reserve charge of nearly $1.3bn within its casualty insurance book.
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He was appointed acting CEO earlier this month, after Andrade’s departure.
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New CEO Williamson will likely continue walking the hybrid path, with an emphasis on fixing US casualty.
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Andrade is taking up a CEO role at another “prominent financial services firm”, Everest said.
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