Property
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Some markets on the programme have pushed back on the inclusion of event cancellation exposures. -
Cat losses will cost up to $80mn, down from last year’s $140mn, as the carrier indicated underlying results continued to improve in Q4.
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Co-founders Joe King, Enda McDonnell and Adrian Ryan remain in their posts and retain minority stakes in the business.
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The new capacity for the sidecar first launched in 2019 will be invested solely in EBRD bonds.
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Affirmative cyber risks could be the next systemic risk the ILS market takes on, the executive suggests.
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The retro market veteran will join ex-Markel property cat colleague Peta White at the start-up.
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On an annual basis, lawsuits were 1% up on 2019 despite success in cutting back AOB cases.
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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 retro specialist joins the firm as it prepares to expand its reinsurance interests after spinning out of Willis.
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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 start-up's reinsurance division will target cat and retro business as well as a selection of specialty lines.
