Aon
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The firm’s interim CEO Ami Barlev has argued that, with Vesttoo’s weekly expenses being $360,000, freezing assets above $1m would be “catastrophic for the company”. -
The broker has also appointed Paul Shedden as head of advanced risk analytics for its Risk Capital business.
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The ILS transformer platform claims Vesttoo is in breach of shareholder agreements.
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The broker said it believes it has meritorious defenses and intends to vigorously fight the claims and seek recourse against third parties where appropriate.
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The scale of the coverage offered by the firm means buyers in the emerging line of business face a challenge to swap out their capacity.
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The firm said it had identified two specific transactions in which “collateral inconsistencies” were in question.
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Skilton will be chair of the team with Wheeler and Murray heading up the global re specialty unit.
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The coverage is designed to reduce the island’s obligation to the US Federal Emergency Management Agency.
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At this week's Bermuda Climate Summit, speakers heralded the Island's future as a centre of excellence for climate-related innovation and risk transfer.
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The broker’s latest report finds stability but continued price discipline in most lines and regions.
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The broker has published research identifying transformative trends in the insurance industry.
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The broker said the risk from wildfire is also set to increase substantially.
