Fidelis
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The transaction covers storm and earthquake in the US.
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Fidelis’ UK CUO said they believe Davern “is the right person to lead” their continued growth.
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The firm will consider writing more retro after raising $300mn new equity. -
The sovereign wealth entity has taken an equity stake in the Bermuda (re)insurer after also building up an ILS portfolio in the past year.
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The former Aon retro broker was previously CEO of the UK arm at Fidelis.
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He will work on growing the firm’s reinsurance partnerships and quota-share relationships.
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Matthew Bellamy will join as senior underwriter in an expansion of the carrier's reinsurance business.
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Markel and a new venture from ex RenRe exec Eklund are also tapping up investors.
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Richard Brindle also said the cat market is highly sensitive to an additional event, with widespread dislocation possible.
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Fidelis has rebranded its third-party capital partnerships arm as Socium.
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The executive will lead on reinsurance in Bermuda for the soon to launch Catlin venture.
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The $50mn ILS vehicle of Fidelis, led by CEO Richard Brindle, was launched on 1 June 2018.
