Renewals
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Elevated cat losses in H1 weren’t enough to stop a further softening of the market. -
The transition will be implemented starting October 15.
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The soft market continued through H1 2025, especially on shared programs.
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The LA wildfires accounted for 59% of loss activity over Q1.
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Cedants were able to “challenge the status quo” with aggregates back on the table, the broker said.
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The company said the reduction was due to years of steady improvements.
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The program’s total limit this year is down $594mn to $1.36bn.
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The broker noted a “significant variation” in renewal outcomes.
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The impact of SAM claims is reverberating through the tower and the broader marketplace beyond hospitals.
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This is up from last year’s $1bn protection for its Florida treaty.
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HCI secured three towers with $3.5bn in XoL coverage.
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The program includes all perils coverage and subsequent event protection.
