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The exit of key Florida insurers could spur rate increases. -
Gross written premiums grew by nearly 25%, with similar levels of expansion in primary and reinsurance segments.
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The follow-on Lloyd’s syndicate posted a profitable combined ratio of 98% in 2021.
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RenaissanceRe has nominated Shyam Gidumal to its board, while Jean Hamilton is set to retire from the board in May 2022.
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The 5%-7% uplift came in ahead of a smaller November gain connected to 2019 catastrophes.
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Average multiple declined by 11% as issuance expanded by 13% last year
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Absent more significant reform, any changes this year look set to simply shift the timing of burdens falling on the public purse.
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The latest raise takes the satellite firm’s total financing to $304mn.
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The carrier’s whole-account XoL retro also shrank by a similar margin.
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The ILS firm’s management fees, however, fell back compared with 2020.
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The carrier expanded premium by 8.3% at the January renewal.
