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Overall market capacity increased by 5.3% year-on-year, the broker reported. -
The announcement comes after similar launches with Inigo and Atrium.
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The company booked profit for the year of £247mn, up 20% on the prior year.
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The syndicate expects £5.8mn-£8.6mn in California wildfire claims.
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Reinsurance made up 12% of the syndicate’s 2024 GWP.
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Reinsurance and property remained the primary drivers of premium growth.
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Most of the industry losses occurred in Austria, the Czech Republic and Poland.
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The property and specialty insurer reported underwriting profits of $131mn ($170mn).
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The Italian carrier posted a record group profit of EUR7.3bn.
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For the prior-year quarter, the carrier reported a EUR9mn loss.
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Both carriers have extensive reinsurance coverage.
