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The entity plans to retain up to 30% of risk per program.
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The appointments follow the promotion of Jeremiah Konz to chief reinsurance officer.
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The CEO says the carrier deployed most of the $340mn raised in June at the 1 January renewals. -
The combined ratio deteriorates by 26.9 points to 107.8%, though comes in ahead of forecasts.
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The carrier predicts Covid’s reinsurance impact will drive market hardening.
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The Australian carrier has also modestly increased its reserves for Covid-19 BI claims.
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The French reinsurer reported average treaty price increases of 7.8% in January and predicted rate growth through to 2022.
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Third Point Re also confirmed Tim Mardon as global property head and named Rachael Dugan as general counsel.
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Offering crop reinsurance is the latest move since Core Specialty launched in November.
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He replaces Tim Mardon, who recently moved to Third Point Re as global head of property.
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Insurers already face A$40mn in claims, a level set to rise and potentially affect reinsurance.
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The executive had been president of Bermuda for Chubb’s reinsurance arm since 2011.
