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The start-up adds Angus Hampton as head of international casualty and reports a quota-share focus during the renewals. -
Ben Somers, former head of investor relations, has left after more than 11 years at the company.
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The capital supports the MGA’s excess retro portfolio.
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The new classification will allow the carrier to increase GWP and third-party risk.
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The retro specialist joins the firm as it prepares to expand its reinsurance interests after spinning out of Willis.
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Kessler originally joined as chief actuary at Ace Westchester in 2003, while Konz arrived from Aon Benfield in 2012.
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The insurer appears to have dropped a separate $30mn aggregate minor-perils collateralised cover that had taken losses.
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The year was marked by record North Atlantic storms, which put the loss tally more than 40% ahead of mild 2019 experience.
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The start-up's reinsurance division will target cat and retro business as well as a selection of specialty lines.
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Limited new inflows supported the collateralised and sidecar markets as cat bond offerings attracted significant capital.
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The new Bermuda venture launched at the beginning of the year as part of the business’s scale-up.
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The broker forecast that this hard market may be more akin to the “discriminate and relatively short-lived" phase following 2005.
