Treaty Reinsurance
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The reinsurer's shares rose more than 9 percent on news of the board rejecting the offer. -
Holtmeier and two other former employees were accused of violating non-solicitation provisions and accessing trade secrets.
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(Re)insurers are already preparing contingency plans in case the programme fails to renew.
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The broking executive was a managing director at Guy Carpenter in New York for 17 years.
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Limit control, emerging risks and cat losses have all contributed to rapidly changing conditions.
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Al Miralles, who served as chief risk officer since 2017, has been appointed president of CNA Warranty.
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The fund manager warns that eventual reserves for the storms could change materially.
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The company says it wants to “better align its operations, capital and resources" with its liabilities.
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AIG is likely to have exhausted its $550mn Japanese reinsurance cover after typhoons Faxai and Hagibis.
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Typhoon strikes after Faxai has already eroded deductibles on aggregate covers.
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Remote controls will soon allow insurers to access immense datasets about high-value assets, according to panellists at a conference.
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Zurich Insurance’s Nicolas Burnet will replace the CFO, who is to pursue an Exor-backed “entrepreneurial venture”.
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