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The program includes all perils coverage and third-event protection. -
The former Everest executive will look to roll out a range of new product lines at the MGA.
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The firm’s AuM was down 17% on $1.8bn as of 31 December.
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Performance fees soared by 605% to $27.5mn from $3.9mn in Q1 2023.
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Aspen said reduced reinsurance appetite made it a good time to seek alternative capacity.
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The announcement confirms earlier reports from this publication.
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Sources said the deal was roughly three times over-subscribed as cat becomes hot.
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The platform distributed ~$50mn to investors for 2023.
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The carrier closed its Sussex Diversified Fund in October last year.
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Managers are hoping strong returns in 2023 will aid capital raising efforts.
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Pockets of new capital will not shift pricing at mid-year.
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ILS platform London Bridge II has had a good year as volumes reached $750mn, the CFO said.
