-
The rise is equal to 5%-10% of catastrophe capacity purchased, including cat bonds, depending on region.
-
The property market remains “one of the most favourable... I've seen in my career", he said.
-
The underwriter moves to the position from his current role leading property D&F.
-
-
The biggest losses were from wind damage after the storm’s Texas landfall.
-
Accounts with poor performance records are expected to see flat to 20% rate increases for cat coverage, according to Floridian broker Brown & Brown’s Q3 Market Trends report.
-
Insurers' losses will likely be low and readily absorbed by their earnings.
-
The flattish outcome comes after a larger year-on-year hike in January.
-
The cost of the FY25 program is expected to be broadly in line with FY24 for the carrier.
-
Grenada and St Vincent were spared the full brunt of the storm.
-
The broker said another strong year would drive pressure for “reasonably significant rate reductions” next year.
-
Mid-sized 2023-24 cat losses versus ready capacity held the market in equilibrium.