Results
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The ILS unit’s AuM was higher by $100mn compared to $1.9bn as of 30 June. -
The reinsurer took $743mn of nat-cat losses in the quarter.
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The firm recorded a 13.3% nat cat impact to the P&C combined ratio.
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Nat cat pricing is expected to be more or less flat, with rises on loss-affected programmes.
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In other property, Helene and Milton will assure rates remain attractive, he added.
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The firm’s AuM in four key vehicles rose $526mn in Q3.
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The firm sees a "robust" pipeline of potential investors ahead of the renewals.
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The Floridian also announced the completion of its first-ever takeout from Florida Citizens.
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Ceded losses grew by 69.2% in Q3 from the prior year quarter to $44mn.
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The combined ratio included 17 points of catastrophe losses in the third quarter.
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CEO Adrian Cox said Beazley’s recent $290mn ILW purchase was not driven by “capital flexibility in and of itself”.
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Andrade flagged expected 5% to 10% increases in the US and Europe.
