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The carrier pushed London brokers for a reduction in the traditional 15% commission. -
Transparency and alignment of interests are the keys to expanding casualty ILS.
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Hannover Re said that it expected its total gross Ian losses to be slightly below EUR400mn.
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The casualty ILS platform said it now expects to do more secondary transactions.
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The carrier also offered assurances on the strength of its reserving to combat inflation.
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Gross written premium grew across all business lines, with P&C reinsurance reporting a 37.5% increase.
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The reinsurer raised $122mn in Q3, including $100mn for PGGM joint venture Vermeer and $22mn in its cat bond fund.
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Peter Zaffino said AIG expected to able to source similar levels of reinsurance capacity as currently given its relationships with counterparties.
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The company’s third-party assets dropped $178mn during Q3 to $4.2bn.
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A 3.9-point decline in the casualty and specialty segment offset a 2.5-point deterioration in the company’s property business.
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Perils said the storm tracked through an area of low value concentrations.
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The previous estimate, released in May 2021, pegged the losses at A$1.016bn.
