Berkshire Hathaway
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The panelists discussed the ILS reset and the path to maintaining discipline in this sector. -
Geico more than tripled underwriting profits.
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Aeolus increased its participation on the program more than fourfold.
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In 2023, Berkshire provided around $1bn in capacity to the Floridian insurer.
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Berkshire Hathaway and Canada Life Re will provide as much as A$680mn of protection annually.
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Traditional reinsurers such as Berkshire Hathaway and Arch pushed for more share, our annual study of Florida cessions shows.
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This year, the association’s funding will come to $4.05bn with a $2.45bn retention.
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The reinsurance result was boosted by the group’s acquisition of TransRe last year.
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Citizens has disclosed that Nephila Capital increased its exposure to the carrier’s reinsurance program by 68% to a total $756mn line.
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Most forecasters predict below-average activity in the region – but opposing weather phenomena mean uncertainty is higher than usual.
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Early private deals have provided far more stability in this year’s renewal than last.
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Citizens’ board is slated to meet on May 16 at 13:30 ET to discuss the reinsurance and risk transfer program.
