Property

The broker has reported that Storm Zoltan is set to become the second-highest wind-related insured loss event in Europe in 2023 after Storm Ciarán.

Guy Carpenter said overall reinsurance capacity ranged from "adequate to ample" in the 1.1 renewal, with its estimate of ILS growth coming in ahead of mid-year projections.

The renewal included $130mn from White Mountains, considerably less than the $205mn Ark’s parent kicked in for 2023.

The ICA said the storm has already generated more than 3,800 claims across areas stretching from Cape York Peninsula to Mackay.

More policies were removed through depopulation in Citizens this year than the previous seven years combined.

Slade was previously president at Markel’s ILS fund manager Lodgepine Capital.

HCI is offering one million common stock shares priced at $78 per share.

The MAPA will allow APCL clients to participate in a portfolio of syndicates without the need to own the underlying capacity.

Profits are expected to widen thanks to improved rates and higher average attachment points.

Coburn will report to Jason Busti, Axis Re president of North America.

The firm’s follow-only Syndicate 2358 has grown its stamp by 67% to £150mn.

The ratings agency said premium rate increases for specialty lines would be most pronounced in political risk, terrorism and political violence lines because of heightened geopolitical tensions.