Fidelis

The cover is triggered by PCS territory-weighted industry loss and attaches at $12.5bn.

The increased yield reflects the harder post-Ian market.

The carrier pushed London brokers for a reduction in the traditional 15% commission.

The cover will be triggered by territory-weighted annual aggregate industry loss.

How much capacity is available to meet rising cat reinsurance demands was a key theme throughout this year’s Rendez-Vous.

Ratings agencies suggest that carriers must do better on controlling volatility – but diverging risk appetites give the lie to the idea that the industry is walking away from risk.

This publication broke the news in March that the Richard Brindle-led underwriting business was working on the radical company separation.

She was previously an investor relations senior manager at Swiss Re.

Inflationary pressure and climate change meant the market effectively gave ground to cedants despite nominal price rises.

CEO Richard Brindle calls for pricing corrections to reflect climate change and exposure growth.

The Fidelis CEO said stochastic modelling was “pretty much meaningless” and failed to consider the impact of climate change.

Former group portfolio manager Phillip Murfet will become CRO