UK and Europe

The $100mn earthquake issuance failed to attract investor interest.

The former AlphaCat and Aspen executives have teamed up to bring an ESG focus to a new independent ILS platform.

She will remain based in Bermuda as head of risk capital strategy.

The Florida-headquartered carrier blamed litigation rates and rising reinsurance costs for the move.

Farmers Insurance Group is set to sponsor its first catastrophe bond in a two-tranche deal that would provide cover for losses from named storms, severe weather, wildfires and earthquakes, Trading Risk understands.

Jessie Ruppe joins from Arch to oversee casualty ceded reinsurance, while two internal promotions will be responsible for financial lines and property cessions.

Richard Anson previously served as head of ceded reinsurance at Antares and reinsurance manager for Aviva.

He has ended a more than five-year spell at the Bermudian investment manager.

Projected spreads on the deal fell by 10%-11% in early marketing.

Around 15 producing brokers are on the move, with a number from the non-marine specialties team.

The territory has been relatively untouched by outbreaks of the virus so far.

The former Liberty executive’s long-term ambition is to build a tech-enabled, London-based risk carrier to align with the Future at Lloyd’s vision.