Treaty Reinsurance
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The new arrival at the M&A insurance specialist follows the departure of paper provider AGCS earlier this year.
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The former Pioneer underwriting chief will lead the programs team within Brit Global Specialty USA from Georgia.
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The company hopes to launch the new business interruption policy in early 2021.
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The subsidiary was formed in the summer and is deploying capital from the sale of Maison.
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The investment consortium has also finalized an operational partnership with Apollo Syndicate Management.
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The Floridian carrier has agreed terms for a new reinsurance treaty that increases its cession rate by eight points to 30.5%. -
The start-up envisages expansion into insurance “in the coming years”, AM Best said.
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The sanctions will further complicate the delayed construction of the 2,460 km pipeline between Russia and Germany.
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The company’s reinsurance result took a hit from $113mn of Covid-19 claims and $308mn in losses from hurricanes Laura and Sally.
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The carrier, which has announced a strategic review, bought a further $5mn reinsurance top-up after storm Delta that will be triggered by Zeta claims.
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Hudzik is a thirty-year plus veteran of the (re)insurance market having also worked at Endurance, Zurich and AIG.
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Ariel Re will focus on key lines of business, including cat, retro, marine and professional lines.
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