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The former RenRe and Aeolus executive had been in talks with Warburg Pincus over a new retro fund platform. -
The California-based carrier raised its retention to $40mn, citing high rates.
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The insurer was still hit for a net $98.5mn of catastrophe claims in the month mainly due to tornadoes and severe weather.
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The Bermudian reinsurer is upping its fixed income investments in line with the change in its underwriting profile.
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Brad Melvin and Bruce Selby Bennett have been given new roles at the broker.
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Bredahl resigned as CEO of Third Point Re this month having held the role since 2017.
