Operations/tech
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Guy Carpenter will rebrand as Marsh Re, as a new central tech/operations unit is created. -
The ILS services specialist has worked in the ILS market in Bermuda for 10 years.
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It is understood that CyberCube has been considering a sale of the business.
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Insurers must write policies in high-risk areas in order to incorporate the model.
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The fund’s ILS portfolio is split between 70% property cat and 30% cyber risk.
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The business offers parametric windstorm coverage.
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Indirect exposure to cat risk through long-term investors gives Markel optionality.
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HCI will now consist of two operating units – the other being its four underwriting entities.
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The broker also plans to hire from LSN Re and Aon Re, as part of a build-out of its team in the French capital.
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The company’s reinsurance premiums ceded fell by 58% to $149mn.
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Fee income fell by 42% to $25.1mn in Q3 over the prior-year quarter.
