Property
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Moody’s also expects losses in the billions of dollars. -
Six wildfires are now burning in SoCal, with the Palisades fire being the largest.
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Hurricane Milton resulted in the largest insured loss of the year at $25bn.
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More than 4,000 acres are burning as thousands evacuate.
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The deal comes around three years after Markel sold a controlling interest in Velocity for $181.3mn.
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The carrier said reinsurance was a key component of its “low-volatility strategy”.
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In June 2023, Hale Partnership got its license from the Cayman Islands Monetary Authority for HP Re.
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In the US, pricing fell by 6.2% at the major renewal.
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Cat bonds were a key supply-side driver at 1 January 2025.
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The broker anticipates strengthening investor demand for collateralised re.
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Increased reinsurance capacity was more than sufficient to meet continued growth in global demand.
