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.