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Increased vegetation could spell trouble in the future. -
Sources said they expected FM to keep around $2bn of the maximum line net.
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The multi-line program seeks to support investors, developers and operators involved in the AI boom.
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The LA wildfires resulted in the largest insured loss of the year, at $40bn.
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The 25-year industry veteran will report directly to CEO Adrian Daws.
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The property insurer has secured significant additional capacity for its FM Intellium unit.
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Weather events and potential increases in US casualty reserves remain sources of volatility.
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The move comes after a 200+ person mass team lift from Brown & Brown’s retail business in the US.
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The influx of capital, combined with a quiet wind season, led to favorable conditions for cedants during 1.1 renewals.
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Price has become a key differentiator in marine and energy.
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Cedants pursued property renewals “aggressively” amid excess reinsurer capacity.
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The US insurer squeezed its retention in a renewal where cat treaty retentions are widely holding steady.
