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The executive will remain with the firm as a senior adviser to the CEO until mid-2026. -
Based in London, the executive joined BMS nine years ago after a stint as MD at AJ Gallagher.
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Shareholders say the stock has declined around 59% in the past year while book value has dropped ~30%.
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Of the 178 passengers and crew on board, no serious injuries have been reported.
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He also joined Everest’s board last week as an independent director.
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While significant, the fires are expected to be an earnings rather than a capital event for the industry, John Huff, CEO of the Association of Bermuda Insurers & Reinsurers, said.
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Admitted insurer withdrawals and rising demand are pushing more entrants into E&S.
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The MGA is offering lines of $25mn, up from the $10mn limit it was providing until late last year.
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The company is seeking to promote growth in its US excess casualty book.
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The offering includes GA, aviation GL and airport and product manufacturers liability.
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Tactics underwriters employ to manage cyber risk are maturing, as well.
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The executives will join the company in the coming weeks.
