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The company said the reduction was due to years of steady improvements. -
Richardson has been with the firm since 2015 and was most recently vice chair and chair of international.
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The programme’s total limit this year is down $594mn to $1.36bn.
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The sidecars will provide capacity for reinsurers and large insurance carriers.
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Initial responses to ESMA’s report welcomed the long timeframes for any changes.
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The measure could have landed insurers with extra tax on US business.
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The body said cat bonds are closer to an insurance product than a security.
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Michael Hamer recognised for his work with investors and on reporting frameworks.
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The new unit – Ceded Re – will operate under the leadership of Guy Van Hecke.
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The cost comes in at $530.6bn, roughly $20mn lower than budgeted.
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M&A and shifts in distribution arrangements bring risks and opportunities.
