Casualty/GL
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The executive will rejoin as EVP, reinsurance purchasing and risk capital optimization. -
Australia and Florida buyers faced capacity problems as inflation drives up pricing.
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The property reinsurance market may be fast approaching a true ‘hard’ market, the broker said.
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Pricing has settled at the top end of the reinsurer’s original guidance.
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In this newly created role, Joe Stuhl will lead the reinsurance organization’s global distribution strategy and address emerging needs.
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The executive will report to Everest Group COO and head of reinsurance Jim Williamson.
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The agency said casualty risk was attractive to investors for its low-to-moderate correlation.
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It is the reinsurance company’s first entry to the cat bond market.
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The reorganisation is one of the first major changes to the reinsurance arm since Nancy Bewlay became CEO of the division.
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The firm reserved $40mn for Ukraine, citing ‘small net losses’ in Re & ILS.
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Higher interest rates drove investment write-downs that offset a turnaround in underwriting performance after last year’s first quarter was hit by Uri losses.
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Mango was a respected industry leader and played a key role in elevating the company’s culture of rigorous risk management.
