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Top Stories / Ad / Most Recent
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The executive said during a Q3 earnings call that the company wouldn’t comment on market rumors related to the sale of its primary Lloyd's insurance business. -
The (re)insurer’s combined ratio spiked to 152% after taking $132mn in losses from the European floods and $100mn in claims from Hurricane Ida.
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Brid Reynolds will be responsible for the oversight and development of risk functions globally.
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Reinsurers take stock of a changing catastrophe landscape and plot contradictory courses.
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Industry veteran Alex Blanco, the latest in a flurry of senior-level departures from Axa XL, is to lead Vantage’s insurance business build-up.
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The underwriter’s exit comes after the reinsurer added Jill Beggs from Munich Re last week and promoted Peter Bell to be its new CEO in Bermuda in July.
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However, the deal is low-to-mid ranking in terms of book multiple.
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Underwriting profits soared by 66% to $174mn, with a $234mn underwriting gain in mortgage outweighing losses in insurance and reinsurance.
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The carrier expects losses of $5mn from Hurricane Ida net of reinsurance recoveries, and adverse development of $15.1mn in casualty reinsurance.
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The business has seen an exodus of senior staff members in the past two years, including founding CEO Chris Fagan.
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The intermediary’s latest acquisition targets US Fortune 1,000 clients.
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The ratings agency said the island would continue to provide a beneficial environment for carriers overall.
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