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Both syndicates also reported a deterioration in their combined ratios. -
The firm also promoted Devin Inskeep to an expanded role as SVP, head of ratings and advisory.
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Most of the industry losses occurred in Austria, the Czech Republic and Poland.
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Guernsey’s TISE listed the world’s first private cat bond issued by Solidum Re in 2011.
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Sources warned some property XoL books are already running 50% loss ratios.
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Founding partners DeCaro and Rettino will continue to provide oversight and investment advice.
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Earlier today, Aon confirmed president Eric Andersen had stepped down from his role.
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The executive will remain with the firm as a senior adviser to the CEO until mid-2026.
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The cat bond manager warned of excess downside risk owing to an accumulation of losses.
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The insurance industry has experienced mounting losses from severe convective storms.
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Indirect exposure to cat risk through long-term investors gives Markel optionality.
