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The cat bond market has a high level of exposure to Florida wind risk. -
The Swiss ILS specialist pointed to potential impacts on Floodsmart, Florida indemnity and index-linked bonds.
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Neches will also join the board of directors of the Bermuda-based company, effective immediately.
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The storm, currently 285 miles south of Charleston, is expected to make landfall as a hurricane on Friday.
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The incoming CUO joins from InsurTech MGA Kettle, where he was also CUO.
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Georgia, Virginia and the Carolinas have declared a state of emergency as the storm moves north.
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Research by sister title Inside P&C shows the top three homeowners carrier exposures by county for forecast highest impact areas.
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A landfall at Category 3 or 4 along the west coast of Florida later this week would be one of the more damaging scenarios for Ian.
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The industry net loss and LAE ratios decreased 7.3 points year-over-year, while expense ratios improved by 5.9 points.
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Florida specialists have continued to cede more premium to reinsurers, topping $7bn in 2021.
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Inver Re said the launch was part of its growing inter-disciplinary approach to reinsurance broking.
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The specialty cyber underwriter has appointed David Ross to head up the new outfit.
