Parametric

The launch is Chaucer’s first foray into the class.

The broker has also appointed Charlie Liddle and Rowan Minhas to the team.

NormanMax Syndicate 3939 is to be managed by Apollo Syndicate Management.

The 30-strong segment will combine reinsurance and capital markets with data, analytics and technology.

Ola Jacob's role at Descartes will focus on expanding the firm's parametric insurance offering in the London market to corporates exposed to climate risks across the globe.

Alongside a parametric scheme, a further insurance pool providing up to $1bn in cover will recoup funds to benefit the post-quake recover.

The two parametric businesses will be brought together as the UK and German governments sell out.

The coverage is designed to reduce the island’s obligation to the US Federal Emergency Management Agency.

Mayer will manage a global centre of excellence for parametric products and report to Paul Schultz, CEO of Aon Securities.

Guy Carpenter was the sole placing broker sourcing capacity for the tie-up.

New York's Metropolitan Transportation Authority (MTA) has secured $100mn of limit to protect against storm surge from named storm events, up by 33% on its initial target of $75mn.

The firm’s flood solution will be available to layer on top of existing parametric hurricane wind policies.