Property
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It will also encompass impact investment manager BlueOrchard, although the microfinancier will keep its independent identity.
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Sven Wehmeyer, who will remain as CEO of Validus’s Zurich-domiciled reinsurance arm, replaced Steve Bardill as head of international on 1 June. -
The aspiring carrier is already providing risk-transfer deals for carbon offset buyers but plans for its initial underwriting to be focussed in more traditional areas.
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The intermediary also warned that inflation headwinds could affect the future cost of claims.
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The funds made a $93.9mn loss in 2019, ahead of a leadership changeover at legacy adviser Armour.
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Florida domestic property insurers are getting squeezed, unable to increase rates fast enough to offset mounting losses.
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The former Bermuda Brokers and JLT Re broker says ILW appetite is expected to remain strong after benefitting from pandemic trading activity.
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Matthew Harvey joins as a senior vice president and leader of the operation.
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The insurer’s overall top line rose 16% as cat claims reached $70mn.
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Ann Haugh will lead the new global property division, with Andy Hottinger heading up international and Jonathan Gray specialties.
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The state insurer will raise $800mn-$950mn after initially launching with a modest $500mn target.
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Most damage to private and commercial property was covered, but agriculture losses were uninsured.
