Travelers
-
The deal leaves premier surety as Travelers' sole Canadian portfolio. -
The carrier’s Milton loss came in below expectations, but its fire claims will be “material” in Q1.
-
The carrier purchased an additional $150mn of cover.
-
The program’s retention remained the same at $3.5bn.
-
Travelers is set to expand its core cat treaty by between $1bn and $1.5bn, in a further sign of increased demand for cat reinsurance coverage at 1 January, this publication can reveal.
-
The carrier continued to experience a significant level of catastrophe losses this year, which resulted in lower year-to-date earnings than expected, according to CFO Frey.
-
The company said Ki is the first algorithmic underwriter to offer capacity from multiple syndicates.
-
The insurer also added $100mn to its northeast cat treaty as it posted $1.48bn of cat losses in the second quarter.
-
The company's portion of net written premiums from Fidelis is expected to be around $550mn to $600mn for the full year.
-
The 17% uplift in its retention comes as reinsurers push for higher attachments.
-
The firm missed its earning per share target for the quarter.
-
Analysts said attachment points are now far behind the rate of inflation over the period.
