Swiss Re
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The industry’s ability to draw new capital will hinge on the outcome of the Atlantic hurricane season. -
Loss estimates from Aon, Gallagher Re, Swiss Re and Munich Re all point to a significant component of severe convective storm losses.
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A total of 10 events caused more than $1bn in losses each.
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CFO John Dacey said the carrier remains underweight in Florida due to concerns around underlying economics.
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The reinsurer opened its cat bond portfolio to third-party investors last summer.
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The carrier achieved treaty price increases of 21% at 1.7, against increased loss assumptions of 16%.
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The $120mn bond, issued in 2021, covers mortality risk in the US, UK, Canada and Australia.
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The executive will report to reinsurance solutions CEO Russell Higginbotham.
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The global natural catastrophe protection gap stood at $368bn, with protection gaps being largest in emerging markets.
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The report outlined 17 recurring and emerging risks (re)insurers should be aware of.
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The comment comes after major US carriers pulled back from new business in wildfire-prone California.
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Mayer will manage a global centre of excellence for parametric products and report to Paul Schultz, CEO of Aon Securities.
