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The outlook flags “large uncertainties” amid possible El Niño through summer 2026.
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MGAs going public is now a viable option, but dominating a market comes first.
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The highest portion of losses was experienced in Alberta.
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Admitted carriers on the other hand are still exercising caution as regulatory reforms take hold.
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An “extraordinary” proportion of storms reached Category 5 status this year.
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Many carriers are still pricing above technical rate, but could reassess their strategies after Q1.
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Light cat losses at year-end portend capital deployment and return decisions in 2026.
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The peril has been historically difficult to model compared to others.
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Insurers with SCS exposure reaped fewer benefits but still improved over Q3 2024.
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Despite a softening market, underwriters were still able to attain up to 10% above technical pricing.
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With property getting more competitive, FM pursued an opportunity for growth in E&S with Velocity.
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The deal to reopen the government also extended the NFIP.
