-
The transaction complements its previous acquisition of RMS in 2021. -
The US carrier abandoned the project due to high price expectations.
-
Urban expansion, climate change and inflation are key drivers of losses.
-
The subject business of the deal is Ascot’s ~$1bn property portfolio.
-
Growth was driven by strong returns and new investors entering the market.
-
The rate change will be implemented in November.
-
The executive has worked for Scor, RMS, Aon and SiriusPoint, among others.
-
Building better exposure datasets could draw a broader range of investors.
-
The unit will support Ascot’s third-party capital business.
-
Positive cat experience impact of $600mn was offset by $500mn in property and specialty reserves.
-
Rising premium income is not keeping pace with the increased cost of claims.
-
Winning higher-fee private ILS mandates will strengthen firms’ negotiating positions.
