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The broker has nearly 20 years of experience in the reinsurance and retro markets. -
The carrier reported preliminary profits of EUR2.1bn, driven by “very low” major-loss expenditure in P&C re.
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Canio spent over 19 years with PGGM, with nine of those managing ILS.
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The firm reported a net pre-tax cat loss of $414mn from January’s LA wildfires.
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Managers believed end-investors value diversification and non-correlation of cat bonds over liquidity.
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Cat bonds remain attractive for investors seeking risk-adjusted return and diversification.
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The losses were below May’s $777mn, but almost 3x higher than for June 2024.
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The suit claims billions of dollars are being illegally withheld.
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The US accounted for 92% of all global insured losses for the period.
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US events accounted for more than 90% of global insured losses.
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The PRA will also have to report on turnaround time for new approvals against 10-day and six-week targets.
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