The Faraday Property Treaty team provides significant natural perils catastrophe cover to insurance companies around the world.
55% of our book is in the US, with 45% being in international territories, and we lead or make pricing input on approximately 40% of it. Catastrophe excess of loss makes up 94% of our business, with 5% pro-rata and 1% risk excess. Our clients range from single state mutuals in the US and single island writers in the Caribbean, to global insurance writers with worldwide exposures.
Whilst generally writing at the lower to middle end of programmes, we are always willing to consider new opportunities. We seek to support best in class, and pick our partners on the basis of long-term viability and willingness to trade through cycles. The quality of Faraday’s ownership, and our significant capacity, mean that we can offer a robust and durable product.
The team builds solid relationships, travelling extensively to engage with existing and prospective clients and understand their purchase drivers. We deliver first-class service to our brokers, who deal face to face with the decision makers.
Above all, we deploy our intellectual capital and capacity to respond to our clients in an ever changing market. Along with our extensive market experience and underwriting knowledge, we use a combination of vendor and internal models to achieve consistency in underwriting and portfolio management.
Our underwriting team benefits from strong claims, wordings, loss modelling and actuarial support.
- Nationwide 42%
- Regional 30%
- Single State 20%
- Other 8%
- Japan 23%
- UK 16%
- Europe 15%
- Caribbean 12%
- Worldwide ex US 11%
- Australasia 11%
- Other 12%