ILS
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The Bermuda transformer placed a total of $402.2mn of cover last year. -
The firm generated total fees of $40mn including quota share commissions.
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The deal would bring the North Carolina residual insurer’s total ILS coverage to $650mn.
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Duda will be the latest exit from Markel after Lodgepine’s closure.
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The carrier recorded $224mn of natural catastrophe losses.
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Talks between the regulator and practitioners are ongoing, with the market picking out several key threads that could assist local transactions.
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In the past month, Scor has expanded its business development team, while Lodgepine’s president and CEO left after Markel shut the retro platform.
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TransRe cut its property book by more than 25% but replaced it with casualty growth.
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The manager’s Bermuda and Chicago teams have been boosted in recent months.
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The executive’s prior ILS roles include stints at Hamilton and Horseshoe.
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Coca Cola has downsized its ILS holdings almost every year since 2017.
