“But we would expect even on a written basis, same-store sales with the way we're structured, the way we underwrite and the way we structure reinsurance that the combined ratios are going to improve in a meaningful way.”

In context

“e the best casualty underwriters in the marketplace led by Barbara Luck. We've done this before. We've looked at a portfolio and said, this is what we think the structure needs to be in terms and conditions and pricing. And so I think we have a really strong track record of delivering that. Even if we deliver, the majority of the Casualty portfolio will still be less than 20% of our overall casualty. And we have a very sound, attractive and one of the best structures, I believe, in casualty reinsurance, which means we protect it from volatility. The ceding commission will absolutely be a tailwind and accretive to the combined ratio. We have a low 30 seed. We're bringing very little expense over. The acquisition expenses are at or slightly below ours. I would look to forecast them at ours. But we would expect even on a written basis, same-store sales with the way we're structured, the way we underwrite and the way we structure reinsurance that the combined ratios are going to improve in a meaningful way. Jon, do you want to just give a quick overview in terms of how you look to the book when you're doing diligence? Jon Hancock: Yes, I will. Thanks, Peter. I mean I'd start by saying I think this is a great deal for everyone, for us, for Everest and critically for those brokers and clients. And we're getting great reaction from all of them. It's a strong AIG with a global footprint in lines of business that we like, we know and we already like a lot of, and where we've already got big and existing relationships with everyone. So this is about building on that rather than start from scratch. And I'd love the fact we did the deal at pace. We both decided very early on, it was the right thing for us. Hence, that bilateral discussions that you talked about, Peter. We wanted to do it, but we did”