However, expected losses will reduce near-term earnings
41 new captive insurance firms were licensed in 2024
Merit will operate under Knighthead Life brand
The programs cost $500 million
It serves as a Category 4 commercial general reinsurer in Guernsey
Demand only rose by 5%
The new phase follows an extended period of rate increases across the sector
Performance comes from higher reinsurance prices, stricter terms, and property catastrophe attachment points reset
