Rebecca Perkins
Lead Reporter
Published by this author:
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Mory Katz joined the broker earlier this year. -
The carrier will continue to write assumed retro in Bermuda.
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Guy Carpenter will rebrand as Marsh Re, as a new central tech/operations unit is created.
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The vehicle will now cover an E&S program jointly launched with Accredited.
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The Bermuda firm said HS Sawmill reflected its continued focus on life insurance.
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Equivalent to a Category 5 hurricane, Ragasa is the world's strongest storm this year.
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The resource was developed by leading ILS managers and investors.
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The lawsuit is the latest development in the multi-billion dollar reinsurance scandal.
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California wildfires account for $40bn of the insured loss tally in H1.
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The broker has noted that double-digit reductions are increasingly available in property.
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Millions are evacuating after one of the strongest earthquakes in modern history.
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The broker has nearly 20 years of experience in the reinsurance and retro markets.
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The Australian carrier’s nat cat losses are A$200mn lower than its annual allowance.
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Ex-Tropical Cyclone Alfred has been the costliest event, with A$1.36bn in losses.
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The new unit – Ceded Re – will operate under the leadership of Guy Van Hecke.
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The Bermuda-based team is led by John Fletcher.
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The targeted uplift comes after Mercury ceded nearly $1.3bn of wildfire losses to reinsurers in Q1.
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The reinsurer has already dipped into the cat bond market with its Stabilitas Re retro deals.
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The headcount at the start-up now stands at around 40.
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Ark's combined ratio included 25 points of catastrophe losses in Q1.
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The CEO said private ILS funds can generate additional returns of 10%-20%.
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Richard Pennay also addressed the dip in cyber ILS activity.
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Fully placed, this would equate to $275mn on the per-occurrence tower and $675mn on agg.
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The asset manager has hired Rom Aviv as head of ILS.
