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Alexander will join after his competitive restrictions are up. -
Morrison spent four years as an underwriter at Securis before moving to Aeolus in 2018.
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ILW limit of around $1bn could change hands depending on where the Hurricane Ian industry loss number settles.
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The firm’s 1st View report on the July renewals also flagged that an oversupply of ILW capacity may bring down attachment points relative to early 2023.
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The broker estimated global reinsurance capital rose by $30bn over the first quarter, with a 7% uplift in alternative capital and a 5% recovery to traditional equity.
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The $49.4bn number remains below a critical ILW threshold.
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The bond provides coverage for North America storms and earthquakes, as well as European windstorms.
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Industry loss triggered deals offer a degree of simplicity to investors seeking index-linked exposure.
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The firm noted that investor pushback at the January renewal had resulted in "the cleanest risk" being transferred to the capital markets.
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UBS previously explored setting up an ILS offering, but instead opted to offer other firms’ products.
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The new offering is structured to solve ongoing ILS market problems including trapped capital, extended settlement times, economic inflation, social inflation, non-modelled risks and pricing uncertainty.
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The reinsurance and ILS leader joined the firm in 2012 during a “rollercoaster” year for industry loss warranties.
