Property
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Sources said Guy Carpenter has promoted Jennifer Paretchan to succeed Mowery. -
The ILS business increased H1 fee income by 13% to $68mn.
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Sidecar vehicles are being tailored to match investors’ objectives.
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Allocators are waiting for 2024 to pan out, according to Hiscox CEO Aki Hussain.
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Severe thunderstorms, mainly in the US, accounted for 70% of insured losses globally.
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It consisted of three major earthquakes within a nine-hour period on 6 February 2023.
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Geico more than tripled underwriting profits.
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Total pre-tax cat losses for the quarter grew sixfold YoY to $135mn.
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The slowdown was based on a conviction of “higher likelihood of frequency events” this year.
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The rise is equal to 5%-10% of catastrophe capacity purchased, including cat bonds, depending on region.
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The property market remains “one of the most favorable ... I've seen in my career,” the executive said.
