Property

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.

AuM stood at $1.5bn as of 30 September, up from $1.2bn as of January 2023.

The Floridian was approved for 75,000 policies, made 72,958 offers and assumed 53,750 policies – a 74% acceptance rate.

The second iteration of the Bermuda sidecar has brought in additional investors.

Martin Ford joins the broker following a 26-year-stint at Gallagher Re, formerly Willis Re.

Aon-owned Mexican cat modeler ERN estimated Otis insured wind losses, excluding auto and infrastructure, at $1.2bn-$1.8bn.

Carriers have been dealing with elevated storm activity this year, whilst additional purchases to match inflating values had largely been parked in 2023.

The forecast reflects property damage and BI losses to residential, commercial, industrial and automobile lines.

A non-binding term sheet was signed on October 6, whereby the buyer will acquire 100% of Interboro’s issued and outstanding securities in exchange for cash.