AJ Gallagher
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SCS losses were also above average in Q1 due to “lingering” La Niña conditions. -
Despite wildfires, reinsurers are “well positioned to maintain strong profitability in 2025”.
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The reinsurance broker said total reinsurance market capacity was up 5.3% year over year.
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The March 13-16 storms would mark the first billion-dollar US SCS event of the year.
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The anticipated portion ceded to reinsurance may reach the mid-to-high single-digit billions, it added.
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Investment in the space comes mainly from the cat bond market, Gallagher Re said.
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Redington provides services to UK pension funds, wealth managers and institutional investors.
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An unexpected shift east towards Tampa could push losses beyond $10bn.
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Francine is expected to make landfall in Louisiana tomorrow.
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Growth was driven by increased earnings and capital inflows.
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Sources said Guy Carpenter has promoted Jennifer Paretchan to succeed Mowery.
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The peril can no longer be considered secondary, according to Gallagher Re.
