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The bond provides coverage for North American storms and earthquakes, as well as European windstorms. -
The pricing is at the top end of the initial guidance range of 550-600bps.
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Most of the industry losses occurred in Austria, the Czech Republic and Poland.
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Earlier today, Aon confirmed president Eric Andersen had stepped down from his role.
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The executive will remain with the firm as a senior adviser to the CEO until mid-2026.
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Indirect exposure to cat risk through long-term investors gives Markel optionality.
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The reinsurer had taken the opportunity to buy more limit across event and aggregate covers.
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The largest individual net loss at EUR230mn was caused by Hurricane Milton.
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Both carriers have extensive reinsurance coverage.
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There are signs that Florida’s insurance industry is coming under increasing legislative scrutiny.
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Almost 300,000 people have been left without power from the storm.
