Property treaty | Insurance Insider US

The market expects a lower proportion of restoration by utilities than after 2018’s Camp Fire.

SCS insured losses accounted for 48% of all global losses last year.

The agency cited falling property rates and US casualty challenges.

It is understood that Salcedo will join Aon as P&C treaty head for Colombia and Ecuador.

Sources said they expected FM to keep around $2bn of the maximum line net.

The broker has analyzed the differences in wildfire risk between Northern and Southern California.

The capacity backs the reinsurance underwriter to cover international risks outside the US.

The executive will take the position left vacant by Alain Bizet, who moved to lead Chaucer LatAm in Miami last year.

Nick Durant helped launched Lockton Re North America in 2019.

The unit will be led by Ed Hochberg, global risk solutions leader at Guy Carpenter.

Insurers have thrown fuel on the fire of the soft property market and brokers will struggle to eke out organic growth.

One avenue for capital freed up by a softer-than-expected renewal could be more M&A.

Reinsurers’ average RoE was 16% as of September 2025.

Tom Wakefield says there is scope for opportunistic reinsurance purchases in 2026.

The market was unphased by January’s record wildfire loss in Los Angeles.

Non-loss impacted major property program rates were down by up to 20% at the renewal period.

The pricing battle has been played out but the extent of new demand will only show up in 2026.

The influx of capital, combined with a quiet wind season, led to favorable conditions for cedants during 1.1 renewals.

Cedants are opting to bank double-digit savings as reinsurers fight for market share.

The US insurer squeezed its retention in a renewal where cat treaty retentions are widely holding steady.

The finance committee discussed shifting market dynamics as tort reform takes effect.

Los Angeles wildfires and SCS pushed US losses to $89bn.

The outlook flags “large uncertainties” amid possible El Niño through summer 2026.

The market is “extremely competitive”, with several launces from MGAs and syndicates expected.

The Japanese P&C carrier agreed a deal to buy 15% of WR Berkley shares in March.

Several Lloyd’s syndicates are also now providing cover for the federal insurer.

An “extraordinary” proportion of storms reached Category 5 status this year.

Existing facilities and carrier partners will be transferring from K2.

Insurance penetration varies, but hotels have “near-total” coverage and strong limits.

The storm devastated Jamaica and Cuba, but insurance penetration on the islands is low.

Widespread underinsurance and low exposures will limit losses.

The reinsurer also hired Martin Bages as Latin America and Caribbean head.

The insurer of last resort currently has $2.15bn of cat bond protection on risk.

As both carriers and reinsurers deal with softening markets, all eyes are on hurricane-prone areas.

This will be Fidelis’ first office in North America and will be led by former Navigators Re head Ivan Vega.

Reinsurer executives during a Aon reinsurer panel stressed that the industry worked hard on setting the right structure.