Everest

It is understood that the Miami-based underwriter will continue operating with capacity from Bermudian carrier PartnerRe and Mexican reinsurer Patria Re. 

Across the P&C industry, sentiment expressed on Q3 conference calls has improved since pandemic lows.

With a four-decade-long career in global financial services, McNeilage also serves on the boards of the Reinsurance Group of America and Scholarship America.

Sources said Miami-based Everest fac VP Sean Berry is set to move to London as head of international property.

In an interview, the CEO also addressed the carrier’s international expansion and portfolio remediation.

Axis’ pivot away from property reinsurance comes just as the sector reaches one of the biggest inflection points.

Discussion on Q3 earnings calls focused heavily on the supply-demand imbalance in cat capacity, as executives discussed how they would navigate a challenging January renewal.

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The executive described the hardening property cat market as a “tremendous opportunity” for the Bermudian.

The Bermudian’s operating loss per share, however, grew nearly four times from the prior-year quarter to $5.28 per share.

The reinsurer attributed $600mn to Hurricane Ian, based on an estimate that the total insured industry losses would come to approximately $55bn.

The French operation will be led by Anne Charon, and the German unit by Bernd Wiemann. The two were appointed country heads earlier this year.