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It has been a “good” bad renewal for cat reinsurers, with attachments likely to endure in the medium term. -
The CEO’s accelerated exit could cost momentum, and shortens Tiernan’s odds of succeeding.
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The strong deal multiple underscores the view of London as a “gateway to the world” for brokers.
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Rates are turning negative, and the balance of power is shifting towards the brokers.
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The business will test the market from a position of strength after impressive early profits and robust growth.
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Surging capacity suggests broker facilities are now refined enough to be a long-term feature.
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The broker’s US retail foray will throw the cards in the air. Where might they land?
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Greco will likely remain in place in the medium-term, which could mean major M&A and a Lloyd’s platform.
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In a decade this market could grow from $5bn to $60bn.
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The market reacted to the $2.4bn charge in a positive light.
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London market carriers may be getting competitive, but that is not in itself a bad thing.
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Signposting the opportunity is one place to start.
